Common use of Liquidated damages for delayed supply Clause in Contracts

Liquidated damages for delayed supply. If the supplier fails to deliver the goods within the period specified in the supply order, the University may, at its discretion, allow an extension in time subject to recovery from the supplier as agreed liquidated damages, and not by way of penalty, a sum equal to the percentage of the value of order which the supplier has failed to supply for period of delay as stated below:-

Liquidated damages for delayed supply. If the supplier fails to deliver the goods within the period specified in the supply order, the University may, at its discretion, allow an extension in time subject to recovery from the supplier as agreed liquidated damages, and not by way of penalty, a sum equal to the percentage 1% per week subject to maximum 10% of the value of order which the supplier has failed to supply for period of delay as stated below:-supply