Common use of Liquidated Damages for Delayed Delivery Clause in Contracts

Liquidated Damages for Delayed Delivery. In the event the EXW delivery date of the Equipment is delayed more than 30 days beyond the EXW shipment dates indicated in Annex A, solely through the fault of the Seller, and unless the parties mutually agreed to an extension thereto, the Buyer is entitled to claim liquidated damages per day of delay in an amount equivalent to 0.15% of the price for the delayed Equipment. Such liquidated damages shall not exceed five percent (5%) of the price of the affected unit(s). In the event that the liquidated damages under this section reach 5% of the price of the affected unit(s), Buyer shall have recourse to Article 16.4 below. Prior to implementing the provisions of Article 16.4 pursuant to this section, Buyer agrees that it shall discuss with Seller alternate remedies in good faith.

Liquidated Damages for Delayed Delivery. In the event the EXW delivery date of the Equipment is delayed more than 30 days beyond the EXW shipment dates indicated in Annex A, solely through the fault of the Seller, and unless the parties mutually agreed to an extension thereto, the Buyer is entitled to claim liquidated damages per day of delay in an amount equivalent to 0.15% of the price for the delayed Equipment. Such liquidated damages shall not exceed five percent (5%) of the price of the affected unit(s). In the event that the liquidated damages under this section reach 5% of the price of the affected unit(s), Buyer shall have recourse to Article 16.4 below. Prior to implementing the provisions of Article 16.4 pursuant to this section, Buyer agrees that it shall discuss with Seller alternate remedies in good faith.. CONFIDENTIAL