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 55% 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, {{buyer}} shall pay to {{seller}} 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.

namespace org.accordproject.simplelatedeliveryandpenalty@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 SimpleLateDeliveryAndPenaltyRequest extends Request {
  o DateTime agreedDelivery
  o DateTime deliveredAt optional
  o MonetaryAmount goodsValue
}

transaction SimpleLateDeliveryAndPenaltyResponse 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 Duration penaltyDuration
  o Double penaltyPercentage
  o Double capPercentage
  o Duration maximumDelay
}