Common use of Method of Settlement Clause in Contracts

Method of Settlement. All adjustment of the Contract Price provided in this Article shall be balanced by adjustment of the last instalment of the Contract Price due upon delivery of the Vessel. For the avoidance of doubt, the Buyer shall be entitled to deduct automatically an amount equal to the aggregate liquidated damages determined in accordance with this Article from the final instalment of the Contract Price payable on delivery of the Vessel. The liquidated damages payable under this Article are cumulative and not exclusive. (End of Article)