Liquidated damages for delay in delivery
Quelle: https://de.wikipedia.org/wiki/Vertragsstrafe
A contractual penalty for delayed delivery is a legally agreed monetary penalty specified in the contract that the party liable for the delay must pay if delivery is not made on time or as agreed; it serves to induce timely performance and compensate for the breach.
Related Terms
You might also be interested in these terms
⚖️ ICC Incoterms 2020
Incoterms 2020 Simulator: Who bears costs & risk?
Analyze all 11 Incoterms 2020: cost matrix, risk timeline, insurance gap detector and customs responsibility – free, no login required.