Common use of TRANSIT TIME Clause in Contracts

TRANSIT TIME. The maximum acceptable delivery period (Transit Time) is 10 days. The consignment entrusted to the transporter must be delivered & stacked at destination warehouse/ installations assigned as per GR / LR Note, within the maximum permissible transit period (excluding holidays, if they fall at the due delivery date). The delivery period (Transit Time) will be calculated from the next date of invoice to date of delivery. Any delay in the delivery beyond the permissible transit period will attract late delivery penalty @ Rs 2000 Per Day. If the date of receipt falls on Sunday / closed holidays / local holiday (as per the declaration submitted by the respective Branch / Zonal office) the next day will be treated as reporting day and no delay penalty/ detention will be applicable for that day.

Appears in 2 contracts

Sources: Service Contract, Service Contract