Article 5: PENALTY
5.1 To delay shipment:
In case of delay shipment happens the penalty for delay interest will be 8% x total of value contract x numbers of delay date.
5.2 To cancel the contract:
a. If the Buyer wants to cancel the contract by himself without the written agreement of both sides, 100% of the total contract value will be charged as penalty to the Buyer. If it’s the Buyer’s mistake
b. If the Seller wants to cancel the contract by himself without the written agreement of both sides, 100% of the total contract value will be charged as penalty to the Seller and the Seller has to return the full advance payment (if any) to the Buyer within 05 days since the Buyer’s notification.