Common use of PENALTIES Clause in Contracts

PENALTIES. In case of failure to comply with the agreed conditions or incorrect fulfillment of contractual obligations, a penalty (0.5% of the contract value for each day of delay, up to a maximum of 10%) will be applied according to the criteria detailed in the Technical Specification. In case of application of penalties, the rights to compensation for damage or to the dissolution of the contract still remain applicable.

PENALTIES. In case of failure to comply with the agreed conditions or incorrect fulfillment of contractual obligations, a penalty (0.51% of the contract value for each day of delay, up to a maximum of 105%) will be applied according to the criteria detailed in the Technical Specification. In case of application of penalties, the rights to compensation for damage or to the dissolution of the contract still remain applicable.

PENALTIES. In case of failure to comply with the agreed conditions or incorrect fulfillment fulfillment of contractual obligations, a penalty (0.51% of the contract value for each day of delay, up to a maximum of 105%) will be applied according to the criteria detailed in the Technical SpecificationSpecification. In case of application of penalties, the rights to compensation for damage or to the dissolution of the contract still remain applicable.