Jan 2, 2020 18:47
4 yrs ago
3 viewers *
English term
for a year counting from the day before the penalty is due
English to Serbian
Bus/Financial
Finance (general)
The basis of the penalty is the gross amount of all abc company receivables for which abc company issued invoices for a year counting from the day before the penalty is due, regardless of the fact whether the payment was completed.
Discussion
A penalty can not be "due" unless it has been calculated. If the "reference turnover" is in the future from the point in time at which the penalty is due, you get a rather illogical situation that you have to pay NOW some amount of penalty based on a turnover that couldn't be possibly known until ONE YEAR LATER IN THE FUTURE.
Looks like some clarifications from the client could be useful.
I think that the ST could have been better drafted - you wouldn't expect a contract where the use of a crystal ball or of a time machine is expected ...