Compensation for short delivery/lifting. 4.5.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the following: 1 Less than 100% but upto 50% of ACQ NIL NIL 2 Below 50% of ACQ 10% 0.1 x P x [((100-LD or LL) – 50)/100] x ACQ) where P shall be the simple average of base prices grades as shown in the Schedule II. The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement.
4.5.2 Compensation for short supply/lifting shall be payable by the defaulting Party to the other Party within a period of 90 days from the date of receipt of claim. In the event of non-payment within the due date, the defaulting Party shall be liable to pay interest as mentioned in the Clause 13 without prejudice to any other right available to the non-defaulting Party.
Compensation for short delivery/lifting. 5.5.1 If for a Year, the Seller fails to meet the Level of Delivery, or the Purchaser fails to meet the Level of Lifting with respect to that Year, then the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be (“Failed Quantity”) in terms of the following: Below 100% but up to 75% of ACQ Nil Below 75% of ACQ 10% The compensation shall be computed in the same manner as done slab-wise for computation of income-tax. The Level of Delivery and Level of Lifting shall be with reference to the ACQ under this E-FSA.
Compensation for short delivery/lifting. 4.5.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in the Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the following:
Compensation for short delivery/lifting. 4.6.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below ACQ with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be (“Failed Quantity”) in terms of the following: 1 Less than 100% but up to 80% NIL 2 Less than 80% 0.01% # 0.0001 x P x ((80-LD or LL)/100) x ACQ # to be operative after a period of three years from the date of signing of the FSA Where P shall be the simple average of base prices of grades as shown in the Schedule III. * Note: For the phasing period the annual coal requirements shall be based on the quantities mentioned by the Purchaser for the initial years under Schedule I of this agreement
4.6.2 The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement.
4.6.3 Commitments made under prior FSAs and commitments existing under “Coal Distribution System” as defined at 1.1(j) shall take precedence over the commitments made under this FSA.
Compensation for short delivery/lifting. 3.6.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below ACQ with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be (“Failed Quantity”) in terms of the following: 1 Less than 100% but up to 80% NIL 2 Less than 80% 0.01%# 0.0001 x P x ((80-LD or LL)/100) x ACQ # to be operative after a period of three years from the date of signing of the FSA Where, P = Simple average of the Base Prices of Grades, as shown in Schedule II * Note: For the phasing period the annual coal requirements shall be based on the quantities mentioned by the Purchaser for the initial years under Schedule I of this agreement
Compensation for short delivery/lifting. 3.6.1 If for a Year, the Level of Delivery bythe Seller, or the Level of Lifting by the Purchaser falls below ACQ with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be (“Failed Quantity”) in terms of the following: 1 Less than 100% but upto 50% of ACQ Nil NIL 2 Below 50% of ACQ 10% 0.1 x P x [((100-LD or LL) – 50)/100] x ACQ)* Where, P = Simple average of the Base Prices of Grades, as shown in Schedule II * Note: For the phasing period the annual coal requirements shall be based on the quantities mentioned by the Purchaser for the initial years under Schedule I of this agreement The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement.
Compensation for short delivery/lifting. 4.6.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below ACQ with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be (“Failed Quantity”) in terms of the following: 2012-13,2013- 14 & 2014-15 2015-16 2016-17 onwards Imported Below 100% but up to NIL NIL NIL + 80% of ACQ Domestic Applicable Below 80% but up to 0 - 1.5 for Imported Coal Only 75% of ACQ 0 - 1.5 0 - 1.5 Below 75% but up to 70% of ACQ - Below 70% but up to 65% - of ACQ 2012-13,2013- 14 & 2014-15 2015-16 2016-17 onwards Below 60% but up to 55% of ACQ 5 - 10 10 - 20 20 - 40 Below 55% but up to 50% of ACQ 10 - 20 20 - 40
4.6.2 The penalty payable shall be computed in the same manner as done slab-wise for computation of income-tax. However, unlike income tax, the percentage of compensation shall grow on linear basis within each slab * Note: For the phasing period the annual coal requirements shall be based on the quantities mentioned by the Purchaser for the initial years under Schedule I of this agreement Note: The Purchaser has to give unconditional acceptance of imported coal and pricing mechanism thereof as would be decided by CIL, by signing the Schedule VII of this agreement. Unless such acceptance is accorded, the penal provision for supply below 80% and up to 65% of ACQ for the years 2012-13, 2013-14 and 2014-15 and below 80% and up to 70% of ACQ for the year 2015-16 shall not be applicable. . The penal provision for supply below 80% shall be applicable from the year 2016-17 and onwards. The terms of import and the pricing mechanism shall be as per the provisions of the Side Agreement.
Compensation for short delivery/lifting. 3.6.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below 100% with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be, (“Failed Quantity”) in terms of the following: Table 1: Compensation for short delivery / lifting for raw Coking Coal 1 Less than 100% but upto 60% of ACQ NIL - Table 2: Compensation for short delivery / lifting for washed Coking Coal 1 Less than 100% but upto 60% of ACQ NIL - Where P = Simple average of the washed Coking Coal prices corresponding to guaranteed ash in respect of different washeries as mentioned in the Schedule - II The Level of Delivery/ Level of Lifting that would cause compensation for the Failed Quantity payable by the defaulting Party, as mentioned in the table above, may be reviewed by the Seller in light of its Coal availability and Coal commitments, and amended accordingly on year-to-year basis at the sole discretion of the Seller during the term of the Agreement.
3.6.2 Compensation for short supply/lifting shall be payable by the defaulting Party to the other Party within a period of 90 days from the date of receipt of claim. In the event of non-payment within the due date, the defaulting Party shall be liable to pay interest as mentioned in the Clause 12.
Compensation for short delivery/lifting. 4.7.1 If for a Year, the Level of Delivery by the Seller, or the Level of Lifting by the Purchaser falls below the ACQ with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be (“Failed Quantity”) in terms of the following: Below 75% but up to 65% of ACQ 0 - 10 Below 65% but up to 50% of ACQ 10 - 40 Below 50% of ACQ 40
4.7.2 The penalty payable shall be computed in the same manner as done slab-wise for computation of income-tax. However, unlike income tax, the percentage of compensation shall grow on linear basis within each slab.
4.7.3 The Seller shall be entitled to modify/amend the penalty levels as specified at Clause 4.7.1 pursuant to review undertaken by the MOC.
Compensation for short delivery/lifting. 3.6.1 If for a Year, the Level of Delivery bythe Seller, or the Level of Lifting by the Purchaser falls below ACQ with respect to that Year, the defaulting Party shall be liable to pay compensation to the other Party for such shortfall in Level of Delivery or Level of Lifting, as the case may be (“Failed Quantity”) in terms of the following: 1 Less than 100% but upto 90% of ACQ Nil NIL 2 Below 90% but upto 85% of ACQ 10% 0.1 x P x [((100-LD or LL) – 10)/100] x ACQ) 3 Below 85% but upto 80% of ACQ 20 % 0.1 x P x [((100-85) – 10)/100] x ACQ) + 0.2 x P x [(85-LD or LL) /100] x ACQ) 4 Below 80% of ACQ 40% 0.1 x P x [((100-85) – 10)/100] x ACQ) + 0.2 x P x [(85-80) /100] x ACQ) + 0.4 x P x [(80-LD or LL) /100] x ACQ) Where, P = Weighted average Base Price of Grades of coal received.
