Контракты / IV

l. In the event of any delay in delivery the Sellers are to pay to the Buyers penalty at the rate of 0,5 % of the value by the equipment.

2. The total amount for penalty in delay in delivery is not to exceed 10 % of the value of the units not delivered in due time.

3. While calculating penalty in delay the amount of days which comprise less than half of a calendar week is not taken into account.

4. The Buyers are entitied Jo deduct the penalty charged while effecting payment under the Setters' invoices.

5. The Buyers are to bear all the expenses connected with insurance.

6. Should Buyers fail to open the Letter of Credit in time, they are to pay Sellers a fine for each day of the delay.

7. Insurance expenses at the rate of 0,75% of the insurance amount at the Seller's expense while effecting payment under invoice for equipment.

8. The Sellers will pay to the Buyers penalty at the rate of 0,1 % of the value of the shipped equipment for non-notification or late notification of the effected dispatch of the equipment.

9. The Sellers undertake to secure a safe storage of the equipment for their own account.

10. Small defects are repaired by the Buyers, the normal actual expenses being charged to the Seller's account.