CLAUSE 8 Delay
The Contractor assures that assigned Services shall be carried out within the time schedule designated by ISUZU without delay, subject to punctual deliveries of products to any location designated by ISUZU.
In any event of delay in performing Services, the Contractor shall promptly pay delay penalty to ISUZU at the rate of five-percent (5%) of the total amount of the service fees of that respective delayed delivery per day calculated from the date of delay performance of the Services until the Services shall be fully completed, and the Contractor shall do its utmost effort to catch up such delays, however the Contractor shall not be responsible for any delay caused by any reasons beyond its reasonable control, including but not limited to (i) delayed and/or shortage delivery of products by ISUZU’s part Suppliers (ii) defects of products and (iii) ISUZU system troubles.
The Contractor shall have full responsibilities and shall reimburse ISUZU for any loss or damage suffered by ISUZU as the results of delay caused by the Contractor. Failure to pay such amount on the date specified by ISUZU shall be subject to the interest at the rate fifteen percent (15%) per annum calculated from the due date specified by ISUZU until actual payment is paid in full.