Common use of CONTRACTUAL SANCTIONS Clause in Contracts

CONTRACTUAL SANCTIONS. 1. If the Seller is in delay with the delivery of the goods pursuant to the Contract (the Seller fails to duly deliver the goods within the agreed date of performance), the Buyer is entitled to apply against the Seller a contractual penalty in the amount of 0.2% of the purchase price for the goods for each commenced day of the delay. The above shall also apply in case of failed or delayed delivery of the documents that are necessary for the takeover or for the use of the goods, or other documents that the Seller is obliged to submit to the Buyer pursuant to the Contract.