Common use of LIQUIDATED DAMAGES FOR FAILURE TO TIMELY PERFORM REQUIRED ASME SCHEDULED TESTS Clause in Contracts

LIQUIDATED DAMAGES FOR FAILURE TO TIMELY PERFORM REQUIRED ASME SCHEDULED TESTS. If the Contractor fails to timely perform all required tests and inspections, in compliance with Section 2.10 ‘Safety Inspection and Tests’, except for causes beyond the Contractor’s control and without the fault or negligence of the Contractor (i.e. acts of God, the public enemy, fires, floods, freight embargoes, regulated utilities delays, etc.), the Contractor will be assessed liquidated damages to compensate the State for the inconvenience and potential liabilities resulting from Contractor’s untimely performance. The liquidated damages shall be equal to two (2) times the Daily Rate (see above Daily Rate Formula) for each and every day beyond the due date until such time that the tests or inspections are complete and accepted by the Authorized User Representative. Such liquidated damages shall be deducted from future monthly invoice(s).