Deduction of Damages from Contract Price Sample Clauses
The 'Deduction of Damages from Contract Price' clause allows the party entitled to damages—typically the buyer or client—to subtract the amount of damages owed from payments due under the contract. In practice, if the contractor or seller breaches the agreement and causes financial loss, the injured party can reduce the next payment or withhold a portion of the contract price equivalent to the damages incurred. This mechanism streamlines the compensation process by offsetting losses directly against amounts otherwise payable, ensuring efficient recovery and minimizing the need for separate legal action to collect damages.
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Deduction of Damages from Contract Price. Upon prior written notice being issued to the Contractor, TPS may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on this Agreement.
Deduction of Damages from Contract Price. Upon prior written notice being issued to the Contractor, CMHA may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on this Agreement.
Deduction of Damages from Contract Price. The State may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on the contract, upon prior written notice being issued to the Contractor by the State.
Deduction of Damages from Contract Price. Upon prior written notice being issued to the Contractor, GDPM may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on this Agreement.
Deduction of Damages from Contract Price. The State may withhold payment and deduct all or any part of the damages resulting from the Contractor’s default from any part of the Contractor’s compensation still due on the Contract.
Deduction of Damages from Contract Price. The University may withhold payment and deduct all or any part of the damages resulting from Contractor’s default from any part of Contractor’s compensation still due on the Contract.
Deduction of Damages from Contract Price. The Agency may withhold payment and deduct all or any part of the damages resulting from the Contractor’s default from any part of the Contractor’s compensation still due on the Contract; 4.
Deduction of Damages from Contract Price. The Department may deduct all or any part of the damages resulting from Contractor’s default from any part of the price still due on the contract, upon prior written notice being issued to the Contractor by the Department.