Running Repair. Maintenance If the Contractor fails to execute the “Running Repair & Maintenance of the Vessel(s)” (as enlisted in Annex VII, Section VIII) within the time period(s) as stipulated in Annex VII, Section VIII or any extended period, the Contractor shall without prejudice to any other right or remedy of the EIC on account of such default, pay compensation (not by way of penalty) at the rate of 0.1% per week or part of the week during non-maintenance and non-running repair period on the total value of the charter hire charge of the vessel for the contract period. Statutory Dry-docking If the Contractor fails to adhere to the timeline stipulated in clause 2.6 (d & e) of Section VI: Terms of Reference and clause 3 (m) of Section VIII: Annex VII (Running Repair & Maintenance Schedule) or any extended period, the Contractor shall without prejudice to any other right or remedy of the EIC on account of such default, pay compensation (not by way of penalty) at the rate of 0.1% per day on the total value of the charter hire charge of the vessel for the contract period. The maximum LD to be deducted as per the Clause 2.7.1 (a) and 2.7.1 (b) shall be restricted to 10% of the total charter hire charges of the vessel(s) taken by the Contractor on bare boat for thirty-six (36) months or extension thereof.
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