Common use of Penalties Clause in Contracts

Penalties. 9.1. If the Buyer is late with payment of the Purchase Price of any of its part, it shall be obliged to pay to the Seller a contractual penalty amounting to 0.05 % of the outstanding amount for every day of delay. 9.2. The Seller shall be entitled to require compensation for damage caused by violation of the obligation to which the contractual penalty relates and claim compensation for damage exceeding the contractual penalty having been paid. 9.3. If the Seller is late with the goods delivery, it shall be obliged to pay to the Buyer a contractual penalty amounting to 0.05 % of the price of the goods to which the delivery delay relates for every day of delay, however, in the maximum total amount of EUR 1,000. 9.4. The contracting parties agree that any contractual penalties, compensation for damage or any other sanction performance of one party to the other one shall be limited with an amount of 10 % of the amount paid by the Buyer for the goods in question individually and with a total amount of EUR 300,000 for all contracts concluded between the Seller and the Buyer (the lower one of those two amounts shall apply).

Penalties. 9.1. If the Buyer is late with payment of the Purchase Price of any of its part, it shall be obliged to pay to the Seller a contractual penalty amounting to 0.05 0.1 % of the outstanding amount for every day of delay. 9.2. The Seller shall be entitled to require compensation for damage caused by violation of the obligation to which the contractual penalty relates and claim compensation for damage exceeding the contractual penalty having been paid. 9.3. If the Seller is late with the goods delivery, it shall be obliged to pay to the Buyer a contractual penalty amounting to 0.05 % of the price of the goods to which the delivery delay relates for every day of delay, however, in the maximum total amount of EUR 1,000. 9.4. The contracting parties agree that any contractual penalties, compensation for damage or any other sanction performance of one party to the other one shall be limited with an amount of 10 % of the amount paid by the Buyer for the goods in question individually and with a total amount of EUR 300,000 for all contracts concluded between the Seller and the Buyer (the lower one of those two amounts shall apply).