## Late Delivery and Penalty.

In case of delayed delivery except for Force Majeure cases,
"Dan" (the Seller) shall pay to "Steve" (the Buyer) for every 2 days
of delay penalty amounting to 10.5% of the total value of the Equipment
whose delivery has been delayed. Any fractional part of a days is to be
considered a full days. The total amount of penalty shall not however,
exceed 55% of the total value of the Equipment involved in late delivery.
If the delay is more than 15 days, the Buyer is entitled to terminate this Contract.

## Late Delivery and Penalty.

In case of delayed delivery{{#if forceMajeure}} except for Force Majeure cases,{{else}} even when Force Majeure occurs,{{/if}}
{{seller}} (the Seller) shall pay to {{buyer}} (the Buyer) for every {{penaltyDuration}}
of delay penalty amounting to {{penaltyPercentage}}% of the total value of the Equipment
whose delivery has been delayed. Any fractional part of a {{fractionalPart}} is to be
considered a full {{fractionalPart}}. The total amount of penalty shall not however,
exceed {{capPercentage}}% of the total value of the Equipment involved in late delivery.
If the delay is more than {{termination}}, the Buyer is entitled to terminate this Contract.

namespace org.accordproject.latedeliveryandpenalty

import org.accordproject.cicero.contract.* from https://models.accordproject.org/cicero/contract.cto
import org.accordproject.cicero.runtime.* from https://models.accordproject.org/cicero/runtime.cto
import org.accordproject.time.* from https://models.accordproject.org/v2.0/time.cto

/**
 * Defines the data model for the LateDeliveryAndPenalty template.
 * This defines the structure of the abstract syntax tree that the parser for the template
 * must generate from input source text.
 */
asset LateDeliveryAndPenaltyContract extends AccordContract {
  /**
   * The buyer
   */
  o AccordParty buyer

  /**
   * The seller
   */
  o AccordParty seller

  /**
   * Does the clause include a force majeure provision?
   */
  o Boolean forceMajeure

  /**
   * For every penaltyDuration that the goods are late
   */
  o Duration penaltyDuration

  /**
   * Seller pays the buyer penaltyPercentage % of the value of the goods
   */
  o Double penaltyPercentage

  /**
   * Up to capPercentage % of the value of the goods
   */
  o Double capPercentage

  /**
   * If the goods are >= termination late then the buyer may terminate the contract
   */
  o Duration termination

  /**
   * Fractional part of a ... is considered a whole ...
   */
  o TemporalUnit fractionalPart
}

/**
 * Defines the input data required by the template
 */
transaction LateDeliveryAndPenaltyRequest extends Request {

  /**
   * Are we in a force majeure situation? 
   */
  o Boolean forceMajeure

  /**
   * What was the agreed delivery date for the goods?
   */
  o DateTime agreedDelivery

  /**
   * If the goods have been delivered, when where they delivered?
   */
  o DateTime deliveredAt optional

  /**
   * What is the value of the goods?
   */
  o Double goodsValue
}

/**
 * Defines the output data for the template
 */
transaction LateDeliveryAndPenaltyResponse extends Response {
  /**
   * The penalty to be paid by the seller
   */
  o Double penalty

  /**
   * Whether the buyer may terminate the contract 
   */
  o Boolean buyerMayTerminate
}