## 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.latedeliveryandpenaltyelse@0.2.0

import org.accordproject.contract@0.2.0.Clause from https://models.accordproject.org/accordproject/contract@0.2.0.cto
import org.accordproject.runtime@0.2.0.{Request,Response} from https://models.accordproject.org/accordproject/runtime@0.2.0.cto
import org.accordproject.time@0.3.0.{Duration,TemporalUnit} from https://models.accordproject.org/time@0.3.0.cto
import org.accordproject.money@0.3.0.MonetaryAmount from https://models.accordproject.org/money@0.3.0.cto

transaction LateDeliveryAndPenaltyRequest extends Request {
  o Boolean forceMajeure
  o DateTime agreedDelivery
  o DateTime deliveredAt optional
  o MonetaryAmount goodsValue
}

transaction LateDeliveryAndPenaltyResponse extends Response {
  o MonetaryAmount penalty
  o Boolean buyerMayTerminate
}

event PaymentObligationEvent {
  o MonetaryAmount amount
  o String description
}

@template
asset TemplateModel extends Clause {
  o String buyer
  o String seller
  o Boolean forceMajeure
  o Duration penaltyDuration
  o Double penaltyPercentage
  o Double capPercentage
  o Duration termination
  o TemporalUnit fractionalPart
}