penalty clause

A penalty clause is a contractual provision that imposes a predetermined financial penalty for breach or late performance, intended to deter default a...

A contractual provision in shipping, transport, or insurance contracts that governs or excludes liability, performance, or coverage in case of war or ...

A contractual penalty clause tied to obligations under the Incoterms, imposing a penalty for failure to comply with or timely perform duties such as d...

A contractual provision that allows a party to terminate or exit an agreement under specified conditions, often including notice periods, fees, or oth...

A contractual monetary penalty assessed for each day of delay or non-fulfillment; the amount is typically fixed in advance and may accrue with the len...

In a logistics/contract context: a contractual monetary penalty whose amount is determined per week of delay in fulfilling a performance obligation or...