16. Late delivery and penalty
16、合同延期和罚款

Should the Seller fail to make delivery within the contracted period for reasons other than Force Majeure specified in Clause 15 hereof, the Buyer may accept the postponement on condition that the Seller agrees to pay a penalty which shall be deducted by the paying bank from the agreed amount of payment. The penalty, however, shall not exceed 5% (five percent) of the total value of the goods involved in the late delivery. The rate of penalty is charged at 0.55（zero point five percent） for every seven days, odd days less than seven days should be counted as seven days. In case the Seller fails to make delivery ten weeks later than the shipment stipulated in the contract, the Buyer shall have the right to cancel the contract. The Seller, in spite of the cancellation, shall still pay the aforesaid penalty to the Buyer without delay.
除本合同第15条所述不可抗力原因外，卖方如不能按合同规定如期交货，并同意支付罚金，买方可同意延期交货，付款银行相应减少议定的支付金额，但罚款不得超过迟交货物总额的5％。卖方如逾期10个星期仍不能交货，买方有权撤销本合同。尽管合同已撤销，但卖方仍应如期支付上述罚金。