In the rest of this specification, we will use the Late Delivery And Penalty legal clause as an example. It is a common clause in a legal contract related to the delivery of good or services, and in some circumstances may be amenable to automation.
The Late Delivery And Penalty clause in the typical legal contract looks like this:
Late Delivery and Penalty. In case of delayed delivery except for Force Majeure cases, the Seller shall pay to the Buyer for every 2 weeks of delay penalty amounting to 10.5% of the total value of the Equipment whose delivery has been delayed. Any fractional part of a week is to be considered a full week. The total amount of penalty shall not however, exceed 55% of the total value of the Equipment involved in late delivery. If the delay is more than 10 weeks, the Buyer is entitled to terminate this Contract.
This specification can be used to convert the late delivery and penalty clause into a reusable fragment (a template), that can be executed by a suitable runtime. The complete template can be found in the Accord Project Template Library.
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