Single format · FV07-B10

Liquidated damages, service credits, interest on delay and remedies

Section 74 lets the parties name the figure, but it does not let them collect it: the named sum is a ceiling, and the claimant must still show that the breach caused loss, which is why the file matters as much as the clause.

Length
3 pages
Blanks to fill
53
Files
Word and PDF
Law stated to
14 September 2026

What it covers

  1. 1Liquidated damages, service credits, interest on delay and remediesss.73-75, Indian Contract Act 1872; Specific Relief Act 196353 blanks

Read the opening

The first part of the format, as it downloads. Blanks are highlighted.

DAMAGES, SERVICE CREDITS, INTEREST AND REMEDIES

1. Criticality and knowledge of special circumstances

1.1 The [Supplier] acknowledges that the [Goods / Services] are required by the [Company] for [onward supply to __ under the Company’s contract dated __ / commissioning of the __ plant by __ / compliance with the Company’s obligation under __], that the [Company] is subject to [liquidated damages of Rs ____ per week / a regulatory penalty of Rs ____ / loss of production of Rs ____ per day] in the event of delay, and that the [Supplier] has been informed of these circumstances before entering into this Agreement and has priced the [Goods / Services] accordingly. This clause is made for the purposes of the second limb of [section 73] of the Indian Contract Act 1872.

2. Liquidated damages for delay

28 more paragraphs and tables follow in the full format.

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