Deduction of Damages from Contract Price Sample Clauses

The 'Deduction of Damages from Contract Price' clause allows the party entitled to damages—typically the buyer or client—to subtract the amount of damages owed from payments due under the contract. In practice, if the contractor or seller breaches the agreement and causes financial loss, the injured party can reduce the next payment or withhold a portion of the contract price equivalent to the damages incurred. This mechanism streamlines the compensation process by offsetting losses directly against amounts otherwise payable, ensuring efficient recovery and minimizing the need for separate legal action to collect damages.
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Deduction of Damages from Contract Price. Upon prior written notice being issued to the Contractor, TPS may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on this Agreement.
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Deduction of Damages from Contract Price. Upon prior written notice being issued to the Contractor, CMHA may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on this Agreement.
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Deduction of Damages from Contract Price. The State may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on the contract, upon prior written notice being issued to the Contractor by the State.
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Deduction of Damages from Contract Price. Upon prior written notice being issued to the Contractor, GDPM may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on this Agreement.
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Deduction of Damages from Contract Price. The State may withhold payment and deduct all or any part of the damages resulting from the Contractor’s default from any part of the Contractor’s compensation still due on the Contract.
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Deduction of Damages from Contract Price. The University may withhold payment and deduct all or any part of the damages resulting from Contractor’s default from any part of Contractor’s compensation still due on the Contract.
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Deduction of Damages from Contract Price. The Agency may withhold payment and deduct all or any part of the damages resulting from the Contractor’s default from any part of the Contractor’s compensation still due on the Contract; 4.
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Deduction of Damages from Contract Price. The Department may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on the contract, upon prior written notice being issued to the Contractor by the Department.
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Related to Deduction of Damages from Contract Price

  • Payment of Damages 19.8.1 The Contractor may claim Damages due and payable to it in accordance with the provisions of this Agreement. 19.8.2 The Authority’s Engineer shall issue the IPC within 15 (fifteen) days of the receipt of the claim under Clause 19.8.1, after making adjustments in accordance with the provisions of this Agreement. The Authority shall pay to the Contractor the amount due under any IPC within a period of 30 (thirty) days from the date of the submission of the claim under this Clause 19.8. In the event of the failure of the Authority to make payment to the Contractor within the specified time, the Authority shall be liable to pay to the Contractor interest thereon and the provisions of Clause 19.9 shall apply mutatis mutandis thereto.

  • Withholding for unpaid wages and liquidated damages The FHWA or the contacting agency shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld, from any moneys payable on account of work performed by the contractor or subcontractor under any such contract or any other Federal contract with the same prime contractor, or any other federally-assisted contract subject to the Contract Work Hours and Safety Standards Act, which is held by the same prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of such contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in paragraph (2.) of this section.

  • INDEMNIFICATION FOR DAMAGES, TAXES AND CONTRIBUTIONS CONTRACTOR shall exonerate, indemnify, defend, and hold harmless COUNTY (which for the purpose of paragraphs 5 and 6 shall include, without limitation, its officers, agents, employees and volunteers) from and against: A. Any and all claims, demands, losses, damages, defense costs, or liability of any kind or nature which COUNTY may sustain or incur or which may be imposed upon it for injury to or death of persons, or damage to property as a result of, arising out of, or in any manner connected with the CONTRACTOR'S performance under the terms of this Agreement, excepting any liability arising out of the sole negligence of the COUNTY. Such indemnification includes any damage to the or of CONTRACTOR and third persons. B. Any and all Federal, State and Local taxes, charges, fees, or contributions required to be paid with respect to CONTRACTOR and CONTRACTOR'S officers, employees and agents engaged in the performance of this Agreement (including, without limitation, unemployment insurance, social security and payroll tax withholding).

  • Compensation for Damages or Losses When investments by investors of either Contracting Party suffer damages or losses owing to war, armed conflict, a state of national emergency, revolt, insurrection, riot or other similar events in the territory of the other Contracting Party, they shall be accorded by the latter Contracting Party a treatment, as regards compensation or other settlement, not less favourable than that accorded to its own investors or to investors of any Third State.