Common use of PENALTY FOR DELAY IN PAYMENT Clause in Contracts

PENALTY FOR DELAY IN PAYMENT. 9.1 That the Vendor shall be entitled to claim simple interest calculated @ 1.5% per month on all delayed payments of installments from the Purchaser. Under no circumstances the Purchaser shall delay the payment of installments for more than 1 month from the due date.

PENALTY FOR DELAY IN PAYMENT. 9.1 That the Vendor Vendor/ Developer shall be entitled to claim simple interest calculated @ 1.5% per month on all delayed payments of installments from the Purchaser. Under no circumstances the Purchaser shall delay the payment of installments for more than 1 month from the due date.

PENALTY FOR DELAY IN PAYMENT. 9.1 That the Vendor shall be entitled to claim simple interest calculated @ 1.5% per month on all delayed payments of installments from the Purchaser. Under no circumstances the Purchaser shall delay the payment of installments for more than 1 month from the due date. The rate of interest is to be paid along with delayed installments is Rs. 1.50 per Rs. 100/- per month.