CONTRACTUAL PENALTIES. In case of non-performance or improper performance of the contract, the Parties stipulate the following contractual penalties:
CONTRACTUAL PENALTIES. If the contractor breaches its obligation to fulfil properly and on time, it is obliged to pay the client a contractual penalty of 0.1% of the price of the work for each day of delay. If the contractor breaches its obligation to remedy defects in the work within the agreed period, it is obliged to pay the client a contractual penalty of 1,500 CZK for each defect and each day of delay. Payment of the contractual penalty does not waive the contractor’s obligation to duly remedy the defects. If the contractor breaches its obligation to inform the client that it has become an unreliable VAT payer or to notify its account published by the tax administrator in a manner enabling remote access, it is obliged to pay the client a contractual penalty in the amount of VAT from the price of the work. If the client breaches its obligation to pay the price of the work on time, it is obliged to pay the contractor a contractual penalty of 0.1% of the price of the work or its part, with which it is in delay, for each day of delay. The contracting parties agreed that the contractor’s obligation to pay a contractual penalty does not exclude the client’s right to compensation for damage and the contractual penalty is payable without a request on the first day of the calendar month following the month in which the right to the contractual penalty arose. The claim for a contractual penalty persists even after the end of this contract as well as after one of the contracting parties withdraws therefrom. The contract is concluded in electronic or paper form depending on the possibilities and agreement of the contracting parties. If concluded in paper form, it will be produced in four identical copies, each having the validity of the original, and each contracting party will receive two copies. This provision also applies by analogy to any amendments to the contract. The contract is independent of any other contract and becomes valid upon its execution by both parties and effective upon its publication in the Register of Contracts. Relationships between the parties arising from and not regulated by this contract are governed by the law of the Czech Republic. If the contract is drafted in multiple language versions, the Czech version is decisive. In case of doubts about the obligations arising from this contract, it will be interpreted in a way to achieve its purpose, if necessary, also considering the procurement documentation and the contractor’s offer as a participant in the publi...
CONTRACTUAL PENALTIES. If the Seller defaults on the duty to deliver the Subject of Purchase to the Buyer, the Seller shall pay the Buyer a contractual penalty in the amount of 0.1% of the purchase price excluding VAT for every day delivery is past due. In case that the Seller defaults on the repair of defects listed in the certificate of delivery and acceptance or defects claimed during the warranty period, the Seller undertakes to pay the Buyer a contractual penalty in the amount of 0.1% of the purchase price excluding VAT for every defect and every day repair is past due. A contractual penalty shall come due upon being levied by the Buyer. The Parties consider the value of the agreed contractual penalties to be adequate. The payment of a contractual penalty shall not prejudice the right to claim compensation for damage incurred by the Party levying such a contractual penalty in connection with the relevant violation hereof wherefor the contractual penalty is levied. The Parties shall have the right to withdraw from this Agreement in the event of a gross violation hereof by the Counterparty. Furthermore, the Buyer shall have the right to withdraw from this Agreement in the event of a minor violation hereof by the Seller, which the Seller fails to rectify within a period specified by the Buyer. A notice of withdrawal from this Agreement must be served in writing, be signed by the authorized representative of the withdrawing Party, and be delivered to the Counterparty. Withdrawal from this Agreement shall not prejudice the right of each of the Parties to claim compensation for damage incurred as a result of a violation hereof by the Counterparty. Likewise, neither of the Parties shall be released from the duty to settle its obligations arising as a result of withdrawal from this Agreement. The Seller declares to have entered into a valid insurance agreement the subject matter whereof is the Seller's liability for damage incurred by the Buyer or third parties as a result of death or injury or damage to the Buyer’s or third-party property relating to the delivery and installation of the Subject of Purchase as part of the Seller’s operations. The liability insurance cover shall include the duty to pay compensation for damage or loss caused by a defective product or faulty work, and the duty to pay compensation for damage or loss cause to an item accepted for the purpose of performing an ordered task. The minimum value of indemnity for each of the aforestated cases shall amount to n...
CONTRACTUAL PENALTIES. 14.1 The right to payment of contractual penalties agreed between the Contracting Parties in this Agreement arises for the Contracting Party concerned on the day of a breach of the secured contractual obligation. The breach of a secured contractual obligation is decisive for the claim to payment of a contractual penalty. The fault of a participant is not required. 14.2 The Contracting Party which has breached the secured contractual obligation is obliged to pay the corresponding contractual penalty within 30 calendar days from the date of the written request by the other Contracting Party to the other Contracting Party. 14.3 The payment of the contractual penalty by the breaching Contracting Party does not release the infringing Contracting Party from the obligation to fulfil the obligations hereunder. 14.4 The contractual penalty is deemed to have been paid when it is credited to the account of the eligible Contracting Party at the financial institution named in the heading of this Agreement. 14.5 The Contracting Party is entitled to claim damages caused by a breach of the obligation to which the contractual penalty
CONTRACTUAL PENALTIES. 11.1 The Tenant undertakes to pay the Landlord all the below mentioned contractual penalties to the Landlord´s account mentioned in the call for payment of the appropriate amount.
CONTRACTUAL PENALTIES. 1. In case of Xxxxxx’x delay in delivery of the goods (article III), the Seller is obliged to pay a contractual penalty to the Buyer at the rate of 0.2 % of the purchase price, i.e.: EUR 39.78 for each day of delay or part thereof. The Buyer is authorised to set-off this contractual penalty against the payment of the invoice for the purchase price of the goods according to article II hereof. 2. In case of Xxxxx’x delay in payment of an invoice that is issued properly and delivered in time for supplied goods, the Seller is entitled to seek interest on late payments at the statutory rate (Government Regulation 351/2013 Coll.). 3. The contractual penalty hereof is due within 15 calendar days of delivery of the written notice of exercise of the right to contractual penalty, and must be made to the specified Buyer’s bank account. The Buyer is entitled to set-off claims arising hereof against the Seller’s claim for payment of the total purchase price. 4. Even after payment of the contractual penalty, the Seller is obligated to fulfil the contractual obligation for which the contractual penalty was paid. The Buyer is also entitled to seek compensation of loss caused by breach of obligation from the Seller to which the contractual penalty is related. For a case where the contractual penalty would be reduced by a court, the contracting parties have agreed that the right to compensation of loss in the amount in excess of the amount stipulated by the court as adequate shall prevail. The contractual penalties hereof can be cumulated without limit.