Late Delivery and Penalty

latedeliveryandpenalty@0.15.0 Contract ^0.20.0 21af230e9dcf80f6f3f36532e257fa0aefe77497a229563c53cd64a30ee2d954

A sample Late Delivery And Penalty clause.

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Late Delivery And Penalty

A sample Late Delivery And Penalty clause.

Template Text

Grammar

Late Delivery and Penalty.
----

In case of delayed delivery{{#if forceMajeure}} except for Force Majeure cases,{{/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.

Sample

## 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.

Sample Data

{
    "$class": "org.accordproject.latedeliveryandpenalty.LateDeliveryAndPenaltyContract",
    "contractId": "b72d1eba-a66b-44fc-8af7-e6280fd72c7c",
    "buyer": {
        "$class": "org.accordproject.cicero.contract.AccordParty",
        "partyId": "Steve"
    },
    "seller": {
        "$class": "org.accordproject.cicero.contract.AccordParty",
        "partyId": "Dan"
    },
    "forceMajeure": true,
    "penaltyDuration": {
        "$class": "org.accordproject.time.Duration",
        "amount": 2,
        "unit": "days"
    },
    "penaltyPercentage": 10.5,
    "capPercentage": 55,
    "termination": {
        "$class": "org.accordproject.time.Duration",
        "amount": 15,
        "unit": "days"
    },
    "fractionalPart": "days"
}

Template Model

Model Dependencies

Template Logic

Find the full logic for this template on on GitHub.

State Types

Type Sample JSON
org.accordproject.cicero.contract.AccordContractState
{
    "$class": "org.accordproject.cicero.contract.AccordContractState",
    "stateId": "f6b2a9b2-ff3e-11e9-b361-efc0ae54bdd6"
}

Request Types

Type Sample JSON
org.accordproject.latedeliveryandpenalty.LateDeliveryAndPenaltyRequest
{
    "$class": "org.accordproject.latedeliveryandpenalty.LateDeliveryAndPenaltyRequest",
    "forceMajeure": false,
    "agreedDelivery": "2019-11-04T15:09:10.347-05:00",
    "deliveredAt": "2019-11-04T15:09:10.347-05:00",
    "goodsValue": 193.415,
    "transactionId": "f6b2a9b0-ff3e-11e9-b361-efc0ae54bdd6",
    "timestamp": "2019-11-04T15:09:10.347-05:00"
}

Response Types

Type Sample JSON
org.accordproject.latedeliveryandpenalty.LateDeliveryAndPenaltyResponse
{
    "$class": "org.accordproject.latedeliveryandpenalty.LateDeliveryAndPenaltyResponse",
    "penalty": 209.209,
    "buyerMayTerminate": true,
    "transactionId": "f6b2a9b1-ff3e-11e9-b361-efc0ae54bdd6",
    "timestamp": "2019-11-04T15:09:10.347-05:00"
}

Events Types

Type Sample JSON
org.accordproject.cicero.runtime.PaymentObligation
{
    "$class": "org.accordproject.cicero.runtime.PaymentObligation",
    "amount": {
        "$class": "org.accordproject.money.MonetaryAmount",
        "doubleValue": 120.284,
        "currencyCode": "XDR"
    },
    "description": "Ea deserunt.",
    "contract": "resource:org.accordproject.latedeliveryandpenalty.LateDeliveryAndPenaltyContract#5078",
    "promisor": "resource:org.accordproject.cicero.contract.AccordParty#5449",
    "promisee": "resource:org.accordproject.cicero.contract.AccordParty#3119",
    "deadline": "2019-11-04T15:09:10.347-05:00",
    "eventId": "f6b2a9b3-ff3e-11e9-b361-efc0ae54bdd6",
    "timestamp": "2019-11-04T15:09:10.347-05:00"
}

Technical Integration

Please refer to the Cicero documentation for details and examples of how to integrate a call to a Cicero template into your application.

View the Latest code for this template on GitHub.