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ID#28: Return of overpaid money

Claim amount: 845.076 Rub/19.000€

Status: Case closed

According to the Contract № 17/29.09 dated January 29, 2009 and Specification № 1 dated January 29, 2009 our company transferred 52.600 Euro (bank transfer no:7 dated 03.03.2009).

According to the Specification company XXXX Ltd should have supplied us with reinforcing rolled metal within 10 days after the receipt of the payment to the account.

Company XXXX Ltd. did not fulfil its obligations in the period, stated in the Specification. XXXX Ltd. made a partial shipment April 17th 2009 and another partial shipment May 22nd, 2009.

According to the Agreement № 17/29.09, signed by the Parties (paragraph 6.2); "If the Supplier fails to deliver the Goods in time, stated in the Specification, the Supplier should pay the Buyer a penalty, equals to 0.1% of the value of the undelivered goods for every day of the delay".

Penalty for 04.03.2009 - 17.04.2009 is 2.300 Euro
Penalty for 17.04.2009 - 22.05.2009 is 1.160 Euro
Penalty for 22.05.2009 - 27.06.2009 is 443 Euro

Total sum of the penalty according to the contract is 3.903 Euro.

According to the payment statement between our companies, XXXX Ltd. owns us 11.067 Euro.

Our lost profits due to the broken delivery schedule are 3.635 Euro.

We even do not calculate the bank interest occured, that is currently on the level of 16%.

In total XXXX Ltd. owes us 18.605 Euro.

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