Common use of Time Frame Clause in Contracts

Time Frame. It is herein being stated that the works stipulated in this contract are to be completed within a stipulated timeframe as indicated in schedule 1, failing to do so which Owner reserves the right to claim damages caused by negligence and may impose a penalty of 3% per day on work on the total value of the contract from the stipulated completion date of this contract.

Time Frame. It is herein being stated that the works stipulated in this contract are to be completed within a stipulated timeframe as indicated in schedule 1, 1 ,failing to do so which Owner reserves the right to claim damages caused by negligence and may impose a penalty of 3% per day on work on the total value of the contract from the stipulated completion date of this contract.