Which of the Following Best Explains 'Liquidated Damages

Multiple Choice

Which of the following best explains 'liquidated damages'? 

A)  Written guarantee from a third-party guarantor. 
B)  The contractor guarantees the actual output or outcome of the work to be delivered. 
C)  Holding company secures payment for agreed sum in case business unit fails to make payments. 
D)  Sum that will be paid in case the contractor fails to deliver works according to the client's specifications.