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Law/Patents - Accounting | | English term or phrase: reduce the applications | Chodzi konkretnie o zwrot: "reduce the applications for the opening of letter of credits"
If Supplier fails to meet the above-mentioned requirements XXX shall be entitled to charge either (i) the actual costs
incurred in connection with the delivery of defective Products or (ii) liquidated damages of 5 % of the value of defective
Products or (iii) liquidated damages of EUR 5,000.00 per delivery. XXX shall be entitled to deduct the liquidated damages
from the total amount of the invoice. Furthermore, XXX is entitled to debit Supplier with the liquidated damages by issuing
a debit note. In such case, Supplier is obliged to pay the amount debited by XXX without undue delay by bank transfer
(free of charge for XXX). If Supplier fails to meet this obligation, XXX is entitled to set off the liquidated damages against
any future purchase price claims of Supplier. In such case, XXX is entitled from the outset to reduce the applications for
the opening of letter of credits by the amount of the liquidated damages. If XXX is entitled to claim liquidated damages,
Supplier shall have the right to prove that the amount of damages actually incurred by XXX is smaller than the amount of
liquidated damages or that XXX incurred no damages at all. XXX remains entitled to claim additional damages incurred in
addition to the liquidated damages set out above. |
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The translation workplace 
