SANCTIONS (NON PERFORMANCE). 11.1. Should either party fail to comply with any of their obligations to the other party hereto, the injured party will have the option to declare non-performance against the defaulting party – See ANNEX B.
SANCTIONS (NON PERFORMANCE). After this contract is signed by both Seller and Buyer, and copies exchanged electronically or otherwise by a delivery service, failure to follow the closing procedures in time and form herein is considered breach of this contract and puts the failing party in default position to pay a one -time penalty fee of one percent (1% ) of the first tranche of the contract to the suffering Party. All subsequent tranches will be based on the same procedures until collateral or funds become exhausted.
SANCTIONS (NON PERFORMANCE). After this contract is signed by both PROVIDER and Receiver, and copies exchanged electronically or otherwise by a delivery service, failure to follow the closing procedure in time and form herein is considered breach of this contract and puts the failing party in default position to pay a onetime penalty fee of 1% of the first tranche of the contract to the suffering Party. All subsequent tranches will be based on the same procedures until collateral or funds become exhausted. BANKING DETAILS CLIENT’s SBLC RECEIVING BANK DETAILS TO RECEIVE MT760 SBLC/INSTRUMENT: BANK NAME : BANK ADDRESS : SWIFT CODE : ACCOUNT NAME : XXXXXXXXXXX : ACCOUNT NUMBER : BANK OFFICER’s NAME & TITLE : BANK OFFICER’s TEL NUMBER : BANK OFFICER’s FAX NUMBER : BANK OFFICER’s EMAIL : CLIENT’S BANK COORDINATES DETAILS TO ISSUE PU VIA MT 799 AND SBLC/INSTRUMENT PAYMENT VIA MT103 OR WIRE TRANSFER: BANK NAME : BANK ADDRESS : SWIFT CODE : ACCOUNT NAME : XXXXXXXXXXX : ACCOUNT NUMBER : BANK OFFICER’s NAME & TITLE : BANK OFFICER’s TEL NUMBER : BANK OFFICER’s FAX NUMBER : BANK OFFICER’s EMAIL : PROVIDER’S BANKING COORDINATES FOR MT760 AND TO RECEIVE POF 44+2% PAYMENT UNDERTAKING MT799: BANK NAME : BANK ADDRESS : SWIFT CODE : ACCOUNT NUMBER : BANK OFFICER’s NAME : BANK OFFICER’s TELEPHONE : BANK OFFICER’s FAX PROVIDER’S BANKING COORDINATES TO RECEIVE PAYMENT OF 10% VIA SWIFT MT103 OR BANK WIRE EURO 0,000,000.00 BANK NAME : BANK ADDRESS : SWIFT CODE : ACCOUNT NAME : ACCOUNT NUMBER : BANK OFFICER’s NAME & TITLE : BANK OFFICER’s TEL NUMBER : BANK OFFICER’s FAX NUMBER : BANK OFFICER’s EMAIL :
SANCTIONS (NON PERFORMANCE). After this contract is signed by both Provider/Seller and Beneficiary/Buyer, and copies exchanged electronically or otherwise by a delivery service, failure to follow the closing procedure on time and form herein is considered breach of this contract and puts the failing party in default position to pay a penalty fee of 3% of the total sum of the contract to the suffering Party. Seller shall return in full RIF to Buyer within 5 banking days if Seller fails to deliver the MT760 within 5 Banking days in accordance with the closing procedure.
SANCTIONS (NON PERFORMANCE). Should either Party fail to comply with any of their obligations to the other Party related to this Agreement notwithstanding written notice of sixty (60) days to rectify the same, then the suffering Party will have the option to declare non-performance against the defaulting Party. Failure by either Party to take action against the other, in case of the other Party's non- compliance with obligations or conditions set forth in this Agreement, shall not be interpreted as a waiver to take action for a subsequent non-compliance of the same or other obligations or conditions.
