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. 2. The payment of the contractual penalty does not relieve the Seller of the obligation to deliver the goods or the documents in accordance with the Contract. 3. Application of the contractual penalty shall not affect the right to claim damages caused by the breach of the contractual obligations. 4. Should the debtor be in delay with the fulfilment of its monetary obligation, the creditor shall have the right to charge the debtor the late charges in the amount of 0.02% of the outstanding amount for each day of the delay.
Appears in 5 contracts
Samples: General Commercial Terms for Purchase of Goods, General Commercial Terms for Purchase of Goods, General Commercial Terms for Purchase of Goods
