Late Delivery and Penalty. Should the Sellers fail to make delivery on time as stipulated in the Contract, with exception of Force Majeure causes specified in Clause 13 of this Contract, the Buyers have the right to penalize the Sellers. Only in case the delay shipment is more than 1 week. The penalty, however, shall not exceed 5% of the goods involved in the late delivery. The rate of penalty is charged at 0.5% for every seven days starting counting from 8th day of the delay, odd days less than seven days should be counted as seven days.
Late Delivery and Penalty. In case of delayed delivery of any shipment, starting from the fourth week of delay and should the Seller fail to make the announcement of readiness for dispatch on time as stipulated in the Contract, with exception of Force Majeure causes specified in this Contract the Seller agrees to pay penalty which shall be deducted by the paying bank from the payment. The penalty, however, shall not exceed [**]% of the total value of the goods involved in the late delivery. The rate of penalty is charged at [**]% for every seven days, a delay for more than 4 days (including 4 days) is counted as one complete week. In case the Seller fails to make delivery ten weeks later than the time of shipment stipulated in the Contract, the Buyer shall have the right to cancel the Contract, and the Seller, in spite of the cancellation, shall still pay the aforesaid penalty to the Buyer without delay. This penalty shall be Seller’s exclusive liability for delay under this Contract or otherwise.
Late Delivery and Penalty. In case of delayed shipment, except for force majeure, the Seller shall pay to the Buyer for every week of delay a penalty amounting to [*] of the total value of the goods whose shipment has been delayed. Any fractional part of a week is to be considered as a full week. The total amount of penalty shall not, however, exceed [*] of the total value of the goods involved in late shipment and is to be deducted from the amount due at the time of payment.
Late Delivery and Penalty. In case of delayed delivery except for Force Majeure cases, the Seller shall pay to the Buyer for every week of delay penalty amounting to 0.5% of the total value of the Equipment whose delivery has been delayed. Any fractional part of a week is to be considered a full week. The total amount of penalty shall not, however, exceed 5% of the total value of the Equipment involved in late delivery. If the delay is more than 10 weeks, the Buyer is entitled to terminate this Contract. However the Seller will still be responsible for above mentioned penalties. Vice versa, in case the Buyer delay the payment or issue of L/C due to the Buyer’s reason, the Seller will not be responsible for late delivery. If Seller does not deliver Equipment, the Buyer is entitled to withhold any pending payment to the Seller no matter whether such unpaid Equipments are under this contract.
Late Delivery and Penalty. In case of delayed delivery except for force major cases in clause 16, the sellers shall pay to the buyers [***]. Any fractional part of a week is considered a full week. The total amount of penalty shall not however [***] and is to be deducted from the amount due to the sellers by the paying bank at the time of negotiation or by the buyers direct at the same time of payment. In case the period of delay exceeds 10 weeks after stipulated delivery date the buyers have the right to terminate the contract. [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. Except for such information, below this line is the original English text of the contract.
Late Delivery and Penalty. In case of delayed delivery except for Force Majeure cases, the Seller shall pay to the Buyer for every week of delay penalty amounting to 0.5% of the total value of the Equipment whose delivery has been delayed. Any fractional part of a week is to be considered a full week. The total amount of penalty shall not, however, exceed 5% of the total value of the Equipment involved in late delivery.
Late Delivery and Penalty. The seller shall deliver the goods according to the stipulated time in the Contract. In case the Seller fails to make delivery as stipulated in the Contract (with exception of Force Majeure causes specified in the Contract), the Buyer shall agree to postpone the delivery on condition that the Seller agrees to pay a penalty which shall be deducted by the paying bank from the Performance Bond. However, the penalty shall not exceed (10) percent of the total value of the Contract value. The rate of penalty is charged at zero point on (0.1) percent for every one (1) day late. In case the Seller fails to make delivery ten (10) weeks later than the time of shipment stipulated in the Contract, the Buyer shall have the right to cancel the Contract and the Seller, in spite of the cancellation, shall still pay the aforesaid penalty to the Buyer without delay. Any delay in delivery by the Seller caused by late delivery of any sub- assembly items to be provided by the Buyer necessary to fulfill the contract shall not be reason for the Buyer to claim, under the provisions for delivery.
Late Delivery and Penalty. Without limitation of its rights in Section 7 above, Xxxxx may, in its discretion, agree to accept a late delivery; provided, that Xxxxx shall get a credit, for every five (5) days of delay, a penalty amounting to one percent (1%) of the total value of the Products whose shipment has been delayed. Any fractional part of a week is to be considered as a full week. The total amount of penalty shall not, however, exceed ten percent (10%) of the total value of the Products involved in late shipment and is to be deducted from the amount due at the time of payment.
Late Delivery and Penalty. Without limitation of its rights in Section 7 above, Xxxxx Marketplace may, in its discretion, agree to accept a late delivery; provided, that Xxxxx Marketplace shall get a credit, for every five
Late Delivery and Penalty. In case of delayed delivery except for Force Majeure cases, after 2 weeks grace period, the Seller shall pay to the Buyer for every week of delay penalty amounting to 0.5% of the total value of the Products whose delivery has been delayed. Any fractional part of a week is to be considered a full week. If the delay is more than 4 weeks, the Buyer is entitled to terminate this Contract and the Seller shall refund the Total Purchase Price within seven business days of Buyer’s written refund notice. However the Seller will still be responsible for above mentioned penalties.
