LD Clause Clause Samples
An LD (Liquidated Damages) Clause sets a predetermined amount of compensation that one party must pay to the other if specific contractual obligations, typically related to timely performance or completion, are not met. In practice, this clause applies to situations such as construction projects where delays can cause significant losses, and the parties agree in advance on the amount payable for each day or week of delay. The core function of an LD Clause is to provide certainty and avoid disputes over the calculation of actual damages, ensuring both parties understand the financial consequences of non-performance and streamlining the resolution process if delays occur.
LD Clause. In the event of the seller’s failure the bonds, Guarantees and Documents, supply of stores/ goods installation of equipment etc as specified in this contract, the Buyer may, at his discretion, with hold any payment until the completion of the contract. The Buyer may also deduct from the Seller as agreed, Liquidated damages to the sum of 0.5% of the contract price of the delayed/ undelivered store/ services mentioned above for every week of delay subject to the maximum value of the Liquidated Damages being not higher than 10% of the value of delayed stores.
LD Clause. If operators as specified in the SOW found absent for the day. Then the Amount will be deducted per person per shift as per quoted amount for the month considering 30 days working.
LD Clause. If manpower assistance @ per duty/shift is not provided in any shift, the corresponding amount will be deducted in the monthly bill and further 5% of the bill amount of the Sub-Station concerned for that month will be imposed as LD.