Penalty for Delay definition
Penalty for Delay means those sums to be paid by the Consultant to the Kerala Road Fund Board as penalty for failure to complete the services within the Time for Completion as stated in the agreement.
Examples of Penalty for Delay in a sentence
The maximum Penalty for Delay shall not exceed 10% (Ten percentage) of the Agreement Price as stated in the Memorandum of Agreement.
Penalty for Delay The penalty for failing to complete the Works is R2 000 per day.