[1] This application for judicial review for an order of certiorari to be issued arises out of the decision of the Tribunal For Homebuyers Claims (the Tribunal) to make an award of liquidated ascertained damages (LAD) to the respondents/homebuyers. The applicant (A) was a licensed housing developer while the respondents were purchasers of a residential unit in the housing project undertaken by A. The parties had entered into a sale and purchase agreement (SPA) in the statutory form which stipulates that delivery of vacant possession by the developer to the purchaser shall be within 24 months after execution of the SPA. Failure to deliver vacant possession to the respondents within the stipulated period was