Common use of Liquidated Damage Clause in Contracts

Liquidated Damage. The conditions of the contract provide for the damages for the late delivery as liquidated damages. In the event of late delivery of materials, the contractor shall pay to the Xxxx(G&K), GSMC& KEMH-Department of Clinical Pharmacology and DJST liquidated damages assume quarto half percent of quoted price of the material/equipment supply late per week calculated from the next day after the agreed delivery, period is over. This is subject to maximum limit@10% of the quoted price of the equipment/material. Such penalty is to be deducted always by the consignee from the contractor’s balance bill, B. G. or any money due to the contractor from Xxxx (G&K), GSMC& KEMH-Department of Clinical Pharmacology and DJST. OR To purchase from elsewhere after giving due notice to the contractor on that account and at his risk, stores not delivered or otherwise of a similar description without cancelling the contract in respect of the consignment not yet due for delivery. OR To cancel the contract and orders, for feature of performance Bank guarantee and blacklisting the firm/company along with their partners/directors. The primary responsibility for the supply of items in time shall rest with the supplier.

Liquidated Damage. The conditions of the contract provide for the damages for the late delivery as liquidated damages. In the event of late delivery of materials, the contractor shall pay to the Xxxx(G&K), GSMC& KEMH-Department of Clinical Pharmacology and DJST liquidated damages assume quarto half percent of quoted price of the material/equipment supply late per week calculated from the next day after the agreed delivery, period is over. This is subject to maximum limit@10% of the quoted price of the equipment/material. Such penalty is to be deducted always by the consignee from the contractor’s contractor‟s balance bill, B. G. or any money due to the contractor from Xxxx (G&K), GSMC& KEMH-Department of Clinical Pharmacology and DJST. OR To purchase from elsewhere after giving due notice to the contractor on that account and at his risk, stores not delivered or otherwise of a similar description without cancelling the contract in respect of the consignment not yet due for delivery. OR To cancel the contract and orders, for feature of performance Bank guarantee and blacklisting the firm/company along with their partners/directors. The primary responsibility for the supply of items in time shall rest with the supplier.

Liquidated Damage. The conditions of the contract provide for the damages for the late delivery as liquidated damages. In the event of late delivery of materials, the contractor shall pay to the Xxxx(G&K), GSMC& KEMH-Department of Clinical Pharmacology and DJST liquidated damages assume quarto half percent of quoted price of the material/equipment supply late per week calculated from the next day after the agreed delivery, period is over. This is subject to maximum limit@10% of the quoted price of the equipment/material. Such penalty is to be deducted always by the consignee from the contractor’s balance bill, B. G. or any money due to the contractor from Xxxx (G&K), GSMC& KEMH-Department of Clinical Pharmacology and DJST. OR To purchase from elsewhere after giving due notice to the contractor on that account and at his risk, stores not delivered or otherwise of a similar description without cancelling the contract in respect of the consignment not yet due for delivery. OR To cancel the contract and orders, for feature of performance Bank guarantee and blacklisting the firm/company along with their partners/directors. The primary responsibility for the supply of items in time shall rest with the supplier.