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2. Claim clause in the contract Discrepancy and claim clause “ Claim: Any claim by the Buyers regarding the goods shipped shall be filed within 30 days after arrival of goods at the port of destination specified in the relative Bill of Lading and supported by a survey report issued by a surveyor approved by the Sellers.” (2) Penalty clause ① Penalty clause regarding the Sellers delay in delivery “Should the Sellers fail to make delivery on time as stipulated in the contract, the Buyers shall agree to postpone the delivery on condition that the Sellers agree to pay a penalty which shall be deducted by the paying bank from the payment under negotiation, or by the Buyers direct at the time of payment. The rate of penalty is charged at 0.5% of the total value of the goods whose delivery has been delayed for every seven days, odd days less than seven days should be counted as seven days. But the total amount of penalty, however, shall not exceed 5% of the total value of the goods involved in the late delivery. In case the Sellers fail to make delivery ten weeks later than the time of shipment stipulated in the contract, the Buyers shall have the right to cancel the contract and the Sellers, in spite of the cancellation, shall still pay the aforesaid penalty to the Buyers without delay.” ② Penalty clause regarding the Buyers delay in opening of L/C  “Should the Buyers for its own sake fail to open the letter of credit on time stipulated in the contract, the Buyers shall pay a penalty to the Sellers. The penalty shall be charged at the rate of 0.5% of the amount of the Letter of Credit for every ten days of delay in opening the Letter of Credit, however, the penalty shall not exceed 5% of the total value of the Credit which the Buyers should have opened. Any fractional days less than ten days shall be deemed to be ten days for the calculation of penalty. The penalty shall be the sole compensation for the damage caused by such delay.”