Settlement for Sample Clauses
The 'Settlement for' clause defines the terms and conditions under which parties resolve outstanding obligations or disputes, typically involving payment or performance. It specifies what is being settled, such as a debt, claim, or contractual duty, and outlines the method and timing of settlement, for example, through a lump sum payment or delivery of goods. This clause ensures that both parties have a clear understanding of how and when their obligations are considered fulfilled, thereby reducing the risk of future disagreements or litigation over the settled matter.
Settlement for damages due to Failure to fulfil the Requirements on Health, Safety, and Environment Established by this Contract
A) US$ 650 (six hundred and fifty Dollars) in case of serious breach.
B) US$ 1,300 (one thousand three hundred Dollars) in case of very serious breach. In the case that the breach expressed in points A), B) and the “extremely serious” ones cause injuries to workers, ENEL –in its sole discretion– shall have the right to claim the settlement of damages up to a sum equal to 2% of the whole Contract value, and in no event to a sum lower than US$ 1,300.00 (one thousand three hundred Dollars). Along with the settlement of damages expressed above, ENEL –in its sole discretion– has the necessary authority to: Stop the activities for the execution of the Contract, during a certain number of days, which may vary in relation to the level of importance of the breach and, in any case, until any adjustment or improvement to correct said breach has been carried out; and without the SUPPLIER having the right to extend the established period for completing the works or to claim any applicable compensation for damages. Demand that the SUPPLIER provides its employees –the persons to whom the breach may be attributed– with an additional training consisting in a 16 hour course on safety and environment. Withhold a sum equal to 10% of the payment to the SUPPLIER from the moment the breach is verified until it is established that any adjustment or improvement has been carried out to correct said breach. If the number of breaches is such that the value of the settlement of damages reaches 5% of the contractual value, ENEL shall be authorized to terminate the Contract after notifying the SUPPLIER of its decision. The application of penalties shall have an impact on the SUPPLIER'S qualification rate. The application of penalties shall be carried out in accordance with the local tax laws. ENEL shall donate the amount of penalties to a fund kept to finance information and training on safety and environment addressed to the SUPPLIERS. DECLARATION OF CONFLICT OF INTEREST [1] (Legal Person) The Company in the person of its legal representative .............................................................. Acknowledges that: The ENEL Group has adopted a Code of Ethics and has approved the Zero Tolerance Plan against bribery; These documents express the commitments and the ethical responsibility of ENEL Group in managing its business and relations with third parties and re...
Settlement for damages due to Failure to fulfil the Requirements on Health, Safety, and Environment Established by this Contract
A) US$ 650 (six hundred and fifty Dollars) in case of serious breach.
B) US$ 1,300 (one thousand three hundred Dollars) in case of very serious breach. In the case that the breach expressed in points A), B) and the “extremely serious” ones cause injuries to workers, ENEL –in its sole discretion– shall have the right to claim the settlement of damages up to a sum equal to 2% of the whole Contract value, and in no event to a sum lower than US$ 1,300.00 (one thousand three hundred Dollars). Along with the settlement of damages expressed above, ENEL –in its sole discretion– has the necessary authority to: Stop the activities for the execution of the Contract, during a certain number of days, which may vary in relation to the level of importance of the breach and, in any case, until any adjustment or improvement to correct said breach has been carried out; and without the Contractor having the right to extend the established period for completing the works or to claim any applicable compensation for damages. Demand that the Contractor provides its employees –the persons to whom the breach may be attributed– with an additional training consisting in a 16 hour course on safety and environment. Withhold a sum equal to 10% of the payment to the Contractor from the moment the breach is verified until it is established that any adjustment or improvement has been carried out to correct said breach. If the number of breaches is such that the value of the settlement of damages reaches 5% of the contractual value, ENEL shall be authorized to terminate the Contract after notifying the Contractor of its decision. The application of penalties shall have an impact on the Contractor's qualification rate. The application of penalties shall be carried out in accordance with the local tax laws. ENEL shall donate the amount of penalties to a fund kept to finance information and training on safety and environment addressed to the contractor`s. DECLARATION OF CONFLICT OF INTEREST [1] (Legal Person) The Company in the person of its legal representative .............................................................. Acknowledges that: ▪ The ENEL Group has adopted a Code of Ethics and has approved the Zero Tolerance Plan against bribery; ▪ These documents express the commitments and the ethical responsibility of ENEL Group in managing its business and relations with third p...
Settlement for damages due to Failure to fulfil the Requirements on Health, Safety, and Environment Established by this Contract
A) US$ 650 (six hundred and fifty Dollars) in case of serious breach.
B) US$ 1,300 (one thousand three hundred Dollars) in case of very serious breach. In the case that the breach expressed in points A), B) and the “extremely serious” ones cause injuries to workers, ENEL –in its sole discretion– shall have the right to claim the settlement of damages up to a sum equal to 2% of the whole Contract value, and in no event to a sum lower than US$ 1,300.00 (one thousand three hundred Dollars). Along with the settlement of damages expressed above, ENEL –in its sole discretion– has the necessary authority to: