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For the B in case of late delivery:
The fine is calculated as follows: If Party B handover equipment for the A slow then:
- Party B shall pay a fine of 0.5% of the total contract value for 1 day delay . The maximum penalty does not exceed 5% of total contract value and not more than 10 working days.
- In case of late delivery Party B over 10 days, Party A may unilaterally terminate the contract. Party B is responsible for paying back the amount that Party A has paid the required phase 1 and the B compensation for losses incurred, if any.
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