Liquidated Damages - LD (Stores)
· Purchaser reserves the right to levy Liquidated Damages in case failure on the part of supplier to arrange supplies as per the delivery schedule or extended period
LD - Percentages
· 0.5 % of value of stores for every week or part of the week
· Maximum LD is 10 % of the value of stores.
· Value of Stores includes taxes, duties, freight etc.
Exemptions to levy Liquidated Damages
1. Force majeure conditions for which circumstances beyond the control of supplier.
2. Delay attributable to the Purchaser (i.e, Railways)