Common use of Terms of application Clause in Contracts

Terms of application. The parties agree that these liquidated damages represent a fair and genuine pre-estimate of the losses which the Purchaser is likely to suffer as a result of the Supplier’s failure to perform the Contract. These liquidated damagesare withoutprejudice to any other right or any remedy the Purchaser is entitled to under the Contractsuch as its right to terminate or seek further compensation for any loss suffered.