Contract number: ECHA/2020/724  Restricted  Service contract conditions of December 2018  out in this contract, the contracting authority may claim liquidated damages for each day of  delay using the following formula: 0.3 x ( V/d) where  V  is the price of the relevant purchase or deliverable or  result  or, failing that, the price  specified in Article I.4.1;  d  is the duration specified for delivery of the relevant purchase or deliverable or  result  or,  failing that, the duration of  performance of the contract  specified in Article I.3.3 expressed  in days.  Liquidated damages may be imposed together with a reduction in price under the conditions laid  down in Article II.16.  The contracting authority must  formally notify  the contractor of its intention to apply liquidated  damages and the corresponding calculated amount. The contractor has 30 days following the date of receipt to submit observations. Failing that, the  decision becomes enforceable the day after the time limit for submitting observations has  elapsed. If the contractor submits observations, the contracting authority, taking into account the  relevant observations, must  notify  the contractor: The parties expressly acknowledge and agree that any amount payable under this Article is not  a penalty and represents a reasonable estimate of fair compensation for the damage incurred  due to failure to provide the services within the applicable time limits set out in this contract.  Any claim for liquidated damages does not affect the contractor’s actual or potential liability or  the contracting authority’s rights under Article II.18.  If the contractor fails to provide the service in accordance with the contract (‘unperformed  obligations’) or if it fails to provide the service in accordance with the expected quality levels  specified in the tender specifications (‘low quality delivery’), the contracting authority may  reduce or recover payments proportionally to the seriousness of the unperformed obligations or  low quality delivery. This includes in particular cases where the contracting authority cannot  approve a  result , report or deliverable as defined in Article I.5 after the contractor has submitted  the required additional information, correction or new version. A reduction in price may be imposed together with liquidated damages under the conditions of  Article II.15.  The contracting authority must  formally notify  the contractor of its intention to reduce payment  and the corresponding calculated amount. The contractor has 30 days following the date of receipt to submit observations. Failing that, the  decision becomes enforceable the day after the time limit for submitting observations has  elapsed. If the contractor submits observations, the contracting authority, taking into account the  24  II.16.2. Procedure  II.16.1. Quality standards  II.16. REDUCTION IN PRICE  II.15.4. Claims and liability  II.15.3. Nature of liquidated damages  II.15.2. Procedure  (a) of the withdrawal of its intention to apply liquidated damages; or (b) of its final decision to apply liquidated damages and the corresponding amount.