Common use of PENALITIES Clause in Contracts

PENALITIES. The terms of delivery specified in the Order shall be regarded as essential pursuant to art.1457 of the Italian Civil Code. The supplier undertakes to keep Company constantly informed as to the progress of the order fulfilment process. In particular, in case of any delay in delivery, the supplier undertakes to provide Company with up-to-date information about the measures taken to minimise the negative impact of the delay in question on Company. In case of any delay in the delivery of even just a part of the Order, the Supplier acknowledges and agrees that Company shall be entitled to choose one of the following options: a. Cancelling the Order; b. Requesting that the Supplier ship the ordered goods by courier, it being understood that any higher expenses due to the urgency of the delivery shall be paid by the Supplier; c. Applying a penalty calculated as specified below, with no prejudice to its right to be compensated for any further damages: 5% of the price agreed upon for the Products and/or Services per week of delay, up to a maximum of 10% of the total sum due for the Products and/or Services; d. Procuring the Products and/or Services from other suppliers, at the Supplier's expense. In any case Company shall still be entitled to be compensated for any damages suffered as a consequence of the delay in the delivery of the Products and/or Services.

PENALITIES. The terms of delivery specified in the Order shall be regarded as essential pursuant to art.1457 of the Italian Civil Code. The supplier undertakes to keep Company constantly informed as to the progress of the order fulfilment process. In particular, in case of any delay in delivery, the supplier undertakes to provide Company with up-to-date information about the measures taken to minimise the negative impact of the delay in question on Company. In case of any delay in the delivery of even just a part of the Order, the Supplier acknowledges and agrees that Company shall be entitled to choose one of the following options: a. Cancelling the Order; b. Requesting that the Supplier ship the ordered goods by courier, it being understood that any higher expenses due to the urgency of the delivery shall be paid by the Supplier; c. ; c.Applying a penalty calculated as specified below, with no prejudice to its right to be compensated for any further damages: 5% of the price agreed upon for the Products and/or Services per week of delay, up to a maximum of 10% of the total sum due for the Products and/or Services; d. Procuring the Products and/or Services from other suppliers, at the Supplier's expense. In any case Company shall still be entitled to be compensated for any damages suffered as a consequence of the delay in the delivery of the Products and/or Services.