Penalty Calculation Sample Clauses
The Penalty Calculation clause defines how financial penalties are determined when a party fails to meet specific contractual obligations. Typically, this clause outlines the formula or method used to calculate the penalty amount, such as a fixed sum per day of delay or a percentage of the contract value, and specifies the events or breaches that trigger the penalty. Its core practical function is to provide a clear, predetermined consequence for non-compliance, thereby encouraging timely performance and reducing disputes over damages.
Penalty Calculation. The term Penalty Calculation generally refers to how Anthem's payment will be calculated, in the event Anthem does not meet the target(s) specified under the Performance Guarantee.
Penalty Calculation. An SLA should indicate precisely how the penalties are calculated and when the clock starts to tick in the Failure time calculation. Common practice requires the customer to raise the problem to the Service Desk before it can be included in the Failure time calculation.
Penalty Calculation