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.
Appears in 4 contracts
Sources: Contract for Supply of Tea (Ctc), Contract for Supply of Tea (Ctc), Contract for Supply of Dal Arhar