Late fees shall be charged on any amounts overdue for delay in payment or be charged on the total amount for delay in issuance of Qualified L/C or in picking up Goods at the rate of 0.04 % per day. In the event that such delay of payment and/or delay of issuance of Qualified L/C and/or delay of pick-up of Goods exceeds one week, the Seller is entitled to terminate this Agreement and retain the payment received as liquidated damages without prejudice to Seller's other remedies under this Agreement.