COMPLIANCE WITH REQUIREMENTS REGARDING DELIVERY TIMES AND PERFORMANCE. The deadlines and timing set forth in the Contract are binding and are essential for ARaymond to accept to enter into the Contract with the Supplier. If it is foreseeable that the timing will not be complied with, the Supplier has the obligation to immediately communicate to ARaymond in writing the seriousness of and reasons for said non-fulfilment along with the necessary justification(s). In the event that a deadline set forth in the Contract is not complied with (whether the Supply is early or late) and ARaymond has not accepted a new deadline in writing, ARaymond shall have the right to return the Supplies to the Supplier entirely at the latter’s expense or, alternatively, to keep the Supply for the Supplier to retrieve within a maximum of eight (8) days from the new deadline, likewise entirely at the risk, peril and expense of the Supplier. Unless otherwise stated in the Purchase Order, in the event of a delay in delivery, ARaymond may, at its sole discretion: (i) apply late-delivery penalties for the disruption suffered by ARaymond, up to 0.3% of the amount of the Purchase Order for the Supply for each day of delay, in any case up to a maximum total of 10% of the total amount of the Purchase Order, or (ii) cancel the Purchase Order, and in any case shall have the possibility of (iii) seeking compensation for losses arising due to the damage suffered.
