imposition or remission of penalties for delay

Penalties = due sum x rate of penalties x number of days of delay / 365.

The yard also intends to reduce penalties for construction delays.

The formula for calculating penalties is: Delay penalties = [(rate) x amount inclusive of tax] x [number of days of delay / 365].

Many contracts also stipulate penalties for delays.

Late payment charges apply from the first day of delay.

The interest rate applicable to these late payment penalties

The Bulgarian law institutes penalties for delays.

Penalties for late payment (according to French regulations):

apply default penalties of 0.5% per day of delay up to a limit of 10%,

Late payment penalties and capitalization of interest

Any late payment is subject to late penalties of a monthly rate of 2.13%.

The penalties for late payment are strictly enforced.

The interest rate applicable to these late payment penalties

Automatic application of late penalties In the absence of a contractual clause