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cicero-engine

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Cicero Engine - Node.js VM based implementation of Accord Protcol Template Specification execution

github.com/accordproject/cicero

accordproject/cicero

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Late Delivery and Penalty. In case of delayed delivery except for Force Majeure cases, the Seller shall pay to the Buyer for every 2 DAY of delay penalty amounting to 10.5% of the total value of the Equipment whose delivery has been delayed. Any fractional part of a DAY is to be considered a full DAY. The total amount of penalty shall not however, exceed 55% of the total value of the Equipment involved in late delivery. If the delay is more than 15 DAY, the Buyer is entitled to terminate this Contract.