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Liquidated Damages For Goods Not Readily Resaleable
LIQUIDATED DAMAGES FOR GOODS NOT READILY RESALEABLE
It is understood by the parties to this agreement that the goods to be delivered to buyer by seller pursuant to the terms of this sales agreement are not readily resaleable on the open market. If the goods substantially fail to conform to the specifications set forth in this agreement, buyer shall have the option to demand payment of the amount of $ [Payment amount] Dollars as liquidated damages, and not as a penalty. The obligation shall be the exclusive liability of seller under the terms of this agreement and the exclusive remedy of the buyer under the terms of this agreement.
This is a UCC-buying and selling form.
It is intended to be an addendum to other forms.