Common use of Penalty for Delayed Payment Clause in Contracts

Penalty for Delayed Payment. If payment of charges as detailed in Article 6 or any other supplementary bill issued in respect of tax etc is delayed beyond due date, SPD shall pay interest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, KSPDCL shall present the Letter of Credit (LC), established by SPD as per the Clause 6.10, in the Bank to draw the amount.

Penalty for Delayed Payment. If payment of charges as detailed in Article 6 or any other supplementary bill xxxx issued in respect of tax etc is delayed beyond due date, SPD shall pay interest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, KSPDCL APGCL shall present the Letter of Credit (LC), established by SPD as per the Clause 6.106.9, in the Bank to draw the amount.

Penalty for Delayed Payment. If payment of charges as detailed in Article 6 or 6or any other supplementary bill issued in respect of tax etc is delayed beyond due date, SPD shall pay interest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, KSPDCL shall present the Letter of Credit (LC), established by SPD as per the Clause 6.106.9, in the Bank to draw the amount.

Penalty for Delayed Payment. If payment of charges as detailed in Article 6 or 6or any other supplementary bill issued in respect of tax etc is delayed beyond due date, SPD shall pay interest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, KSPDCL shall present the Letter of Credit (LC), established by SPD as per the Clause 6.106.9, in the Bank to draw the amount.

Penalty for Delayed Payment. If payment of charges as detailed in Article 6 or 6or any other supplementary bill issued in respect of tax etc is delayed beyond due date, SPD shall pay interest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, KSPDCL shall present the Letter of Credit (LC), established by SPD as per the Clause 6.10, in the Bank to draw the amount.

Penalty for Delayed Payment. If payment of charges as detailed in Article 6 or any other supplementary bill issued in respect of tax etc is delayed beyond due date, SPD shall pay interest payinterest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, KSPDCL shall present the Letter of Credit (LC), established by SPD as per the Clause 6.106.9, in the Bank to draw the amount.