Common use of Liquidated Damage Clause in Contracts

Liquidated Damage. Applies If the Supplier fails to supply the specified goods within the time period(s) stipulated by the purchase order/Contract, UNDP shall, without prejudice to its other remedies under the contract, deduct from the Purchase Order/Contract price, as liquidated damages, a sum equivalent to 0.5 percent of the delivered price of the delayed goods for each week of delay until actual delivery, up to a maximum deduction of 10 percent of the delayed goods Purchase Order/Contract price. Once the maximum is reached, UNDP may consider termination of the Purchase Order/Contract Performance security

Liquidated Damage. Applies If the Supplier fails to supply the specified goods within the time period(s) stipulated by the purchase order/Contract, UNDP shall, without prejudice to its other remedies under the contract, deduct from the Purchase Order/Contract price, as liquidated damages, a sum equivalent to 0.5 1 percent of the delivered price of the delayed goods for each week of delay until actual delivery, up to a maximum deduction of 10 percent of the delayed goods Purchase Order/Contract price. Once the maximum is reached, UNDP may consider termination of the Purchase Order/Contract Performance securityContract