Late Delivery and Penalty.

In case of delayed delivery of Goods, "Betty Buyer" shall pay to
"Steve Seller" a penalty amounting to 10.5% of the total
value of the Goods for every 2 days of delay. The total
amount of penalty shall not, however, exceed 52% of the
total value of the delayed goods. 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 of Goods, {{seller}} shall pay to
{{buyer}} a penalty amounting to {{penaltyPercentage}}% of the total
value of the Goods for every {{penaltyDuration}} of delay. The total
amount of penalty shall not, however, exceed {{capPercentage}}% of the
total value of the delayed goods. If the delay is more than
{{maximumDelay}}, the Buyer is entitled to terminate this Contract.

/*
 * Licensed under the Apache License, Version 2.0 (the "License");
 * you may not use this file except in compliance with the License.
 * You may obtain a copy of the License at
 *
 * http://www.apache.org/licenses/LICENSE-2.0
 *
 * Unless required by applicable law or agreed to in writing, software
 * distributed under the License is distributed on an "AS IS" BASIS,
 * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
 * See the License for the specific language governing permissions and
 * limitations under the License.
 */

namespace org.accordproject.minilatedeliveryandpenalty

import org.accordproject.contract.* from https://models.accordproject.org/accordproject/contract.cto
import org.accordproject.party.* from https://models.accordproject.org/accordproject/party.cto
import org.accordproject.runtime.* from https://models.accordproject.org/accordproject/runtime.cto
import org.accordproject.obligation.* from https://models.accordproject.org/accordproject/obligation.cto
import org.accordproject.time.* from https://models.accordproject.org/time@0.2.0.cto

/**
 * Data Model for the LateDeliveryAndPenalty template.
 */
asset MiniLateDeliveryContract extends Contract {
  --> Party buyer             // Party to the contract (buyer)
  --> Party seller            // Party to the contract (seller)
  o Duration penaltyDuration  // Length of time resulting in penalty
  o Double penaltyPercentage  // Penalty percentage
  o Double capPercentage      // Maximum penalty percentage
  o Duration maximumDelay     // Maximum delay before termination
}

/**
 * Defines a request for the clause
 */
transaction LateRequest extends Request {
  o DateTime agreedDelivery
  o DateTime deliveredAt
  o Double goodsValue
}

/**
 * Defines a response for the clause
 */
transaction LateResponse extends Response {
  o Double penalty
  o Boolean buyerMayTerminate
}