LD Clause Clause Samples

An LD (Liquidated Damages) Clause sets a predetermined amount of compensation that one party must pay to the other if specific contractual obligations, typically related to timely performance or completion, are not met. In practice, this clause applies to situations such as construction projects where delays can cause significant losses, and the parties agree in advance on the amount payable for each day or week of delay. The core function of an LD Clause is to provide certainty and avoid disputes over the calculation of actual damages, ensuring both parties understand the financial consequences of non-performance and streamlining the resolution process if delays occur.
LD Clause. In the event of the seller’s failure the bonds, Guarantees and Documents, supply of stores/ goods installation of equipment etc as specified in this contract, the Buyer may, at his discretion, with hold any payment until the completion of the contract. The Buyer may also deduct from the Seller as agreed, Liquidated damages to the sum of 0.5% of the contract price of the delayed/ undelivered store/ services mentioned above for every week of delay subject to the maximum value of the Liquidated Damages being not higher than 10% of the value of delayed stores.
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LD Clause. If operators as specified in the SOW found absent for the day. Then the Amount will be deducted per person per shift as per quoted amount for the month considering 30 days working.
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LD Clause. If manpower assistance @ per duty/shift is not provided in any shift, the corresponding amount will be deducted in the monthly bill and further 5% of the bill amount of the Sub-Station concerned for that month will be imposed as LD.
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Related to LD Clause

  • Sunset Clause Notice of disciplinary action which may have been placed on the personnel file of an employee shall be destroyed after two (2) years have elapsed since the disciplinary action was taken provided that no further disciplinary action has been recorded during this period. The employee shall be notified orally when such notice has been destroyed.

  • ZIPPER CLAUSE 1. This Agreement sets forth the full and entire understanding of the parties regarding the matters herein. This Agreement may be modified, but only in writing, upon the mutual consent of the parties.

  • Penalty Clause a. Non-execution of supply order - For the reasons of failure to supply partially or completely within 30 days, if the Procurement cell has to buy the items from the RC 2 (L-2), RC 3 (L-3) or approved local vendor firm, the rate difference in cost will be recovered from ▇▇ ▇▇▇▇▇▇ i.e. L1 /Billing Agency as appointed by the Rate Contract Holder. The difference amount will be deducted from the forthcoming bills of the supplier pertaining to any product. Repeated failure (Three times) to supply in part or in full may amount to termination of rate contract for the product (s) and forfeiture of Performance Security. Reasons of failure to supply the material will be communicated by the firm to the Procurement cell timely. b. Late delivery clause -The date & time of the delivery as stipulated in the supply order shall be deemed to be the essence of the contract and delivery must be completed no later than the date(s) as specified in the supply order. Unsupplied items of each supply order which will not be supplied during stipulated time period of 30 days should be treated as cancelled and will be procured from RC-2/RC-3 or approved local vendor and difference amount deducted from forthcoming bills of RC1 (L1)/Billing Agency as appointed by the Rate Contract Holder. c. Non production of item – Difference in the value between existing source and source from where supplies are being obtained for remaining tendered quantity will be recovered from the billing agency.

  • WAIVER CLAUSE The parties acknowledge that during the negotiations which resulted in this Agreement, each had the unlimited right and opportunity to make demands and proposals with respect to any subject matter not removed by law from the area of collective bargaining, and that the understandings and agreements arrived at by the parties after the exercise of that right and opportunity are set forth in the Agreement. Therefore, the Employer and the Association, for the life of this Agreement, each voluntarily and unqualifiedly waives the right and each agrees that the other shall not be obligated to bargain collectively with respect to any subject or matter not specifically referred to or covered in this Agreement, even though such subjects or matters may not have been within the knowledge or contemplation of either or both of the parties at the time that they negotiated or signed this Agreement.

  • BREAK CLAUSE IF YOU HAVE OPTED FOR A FIXED TERM CONTRACT YOU WILL NOT HAVE THE DETAILS OF A BREAK CLAUSE NOTED IN YOUR PARTICULARS. 5.1. The Landlord shall be entitled to serve upon the Tenant Statutory Notice of not less than two calendar months to break this tenancy. Such Notice: 5.1.1. Shall be at least 2 months’ notice to break this Tenancy 5.1.2. Shall not expire before the end of the «D0000_401C_0#Landlord_notice_take_effect» month of the term 5.