PENALTY ON DELAYED SUPPLY Sample Clauses

PENALTY ON DELAYED SUPPLY. (i) In the event of the Supplier Agency‟s failure to submit the Bonds, Guarantees and Documents, supply the stores/goods and conduct trials, installation of equipment, training, etc as specified in this contract, the Buyer (i.e. AIIMS Bhopal) may, at his discretion, withhold any payment until the completion of the contract. The BUYER may also deduct from the Supplier Agency as agreed, Liquidated Damages (LD) to the sum of 0.50% of the Order Value of the Delayed/Undelivered Stores/Services mentioned above for every week of delay or part of a week, subject to the maximum value of the Liquidated Damages being not higher than 10% of the value of delayed stores.
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PENALTY ON DELAYED SUPPLY. (i) The period of delivery strictly to be followed by the Supplier Agency as per time period communicated through Purchase/Supply Order through e-mail/hard copy through speed post. The penalty @ 0.50% per week will levied on supply order value of the item and will be deducted from the payment Bill. The maximum penalty will be 10% against any of Purchase/Supply Order total value (on Items value part not on Tax part). No supplies will be entertained after expiry of additional 10 weeks (i.e. 70 Days) in case of Indian make items and in case of Foreign make imported items subject to deduction of LD on the Total Items Order value (i.e. LD not applicable on tax part) as per above mentioned rate beyond the time given in the Supply/Purchase Order of AIIMS Bhopal and beyond this period the supply order will be treated as cancelled without any further reference and order shall be placed to L2 bidder and difference of cost shall be recovered from the Pending Bill/Performance Security of the such defaulter Agency and action as deemed fit shall be initiated against the firm.
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