CLAUSE 22 – SANCTIONS (NON PERFORMANCE)
22.1 Should either Party fail to comply with any of their obligations to the other Party related to this
Contract, then the suffering Party will have the option to declare non-performance against the defaulting Party.
22.2 Failure by either Party to take action against the other, in case of the other Party’s non-compliance with obligations or conditions set forth in This Contract, shall not be interpreted as a waiver to take action for a subsequent non- compliance of the same or other obligations or conditions.
22.3 In the event of the Seller’s complete non-performance by way of complete non-delivery or persistent and inordinate lateness in delivery without just cause, the Buyer shall further be entitled to cancel this contract or give the Seller thirty (30) working days by way of a grace period to for delayed shipment.
22.4 A penalty charge shall be levied against the Seller at the rate of 0.3% of value of the delayed shipment of Product for every day the shipment is delayed as a result of the Sellers acts or omissions.
This said penalty shall be calculated from the 1st day after the latest date of shipment fixed under this contract.