Common use of Penalties/liquidated Damages Clause in Contracts

Penalties/liquidated Damages. (i) Wherein the Supplier fails to make deliveries as per signed contract& purchase order and within the stipulated time frame specified in the Schedule of Requirement, the Contract to the extent of non-delivered portion of supplies shall stand cancelled. (ii) After the cancellation of the Contract no supplies shall be accepted and the amount of Performance Guaranty/Security to the extent of non–delivered portion of supplies shall be forfeited. (iii) If the Supplier fails to supply the whole consignment and not able to deliver to consignee’s end, the entire amount of Performance Guaranty/Security shall be forfeited to The Children’s Hospital &The Institute of Child Health, Lahore account and the firm shall be blacklisted minimum for two years for future participation. (iv) The exact time frame for making supplies with and without penalty shall be indicated in subsequent purchase order. (v) In case of late delivery of goods beyond the periods specified in the Schedule of Requirements and after issuance of subsequent purchase order by the consignee, apenalty @ 0.067% per day of the cost of late delivered supply shall be imposed upon the Supplier.

Penalties/liquidated Damages. (i) ). Wherein the Supplier fails to make deliveries as per signed contractcontract & purchase order and within the stipulated time frame specified in the Schedule of Requirement, the Contract to the extent of non-delivered portion of supplies shall stand cancelled. (ii) ). After the cancellation of the Contract no supplies shall be accepted and the amount of Performance Guaranty/Security to the extent of non–delivered portion of supplies shall be forfeited. (iii) ). If the Supplier fails to supply the whole consignment and not able to deliver to consignee’s end, the entire amount of Performance Guaranty/Security shall be forfeited to The Children’s Hospital &The Institute of Child Health, Lahore the Government account and the firm shall be blacklisted minimum for two years for future participation. (iv) ). The exact time frame for making supplies with and without penalty is 30days or earlier shall be indicated in subsequent purchase orderorders. (v) ). In case of late delivery of goods beyond the periods specified in the Schedule of Requirements and after issuance of subsequent purchase order by the consigneeorder, apenalty a penalty @ 0.067% per day of the cost of late delivered supply shall be imposed upon the Supplier.