Timely Delivery and Performance Clause Samples
The Timely Delivery and Performance clause establishes the obligation for parties, typically a supplier or contractor, to complete their work or deliver goods and services within agreed-upon deadlines. In practice, this clause sets specific timeframes for milestones or final delivery, and may outline consequences for delays, such as penalties or the right to terminate the contract. Its core function is to ensure that projects or transactions proceed on schedule, minimizing disruptions and providing recourse if deadlines are not met.
Timely Delivery and Performance. Time is of the essence in Supplier’s performance of the Agreement. University is relying upon the promised Merchandise delivery date and/or performance date for Services set forth in the Agreement. If Supplier fails to deliver or perform as and when promised, University, in its sole discretion, may terminate the Agreement, PO, or any part thereof, without prejudice to its other rights, return all or part of any shipment made, and charge Supplier with any loss or expense sustained as a result of such failure to deliver or perform as promised.