Kindly correct my sentences

[Ninth]

I am drafting below terms on agreement and it seems protracted. Kindly help correct it and make it more professional.

"In case Party A fails to make delivery of Commodities within the time specified hereunder, Party A shall pay the penalty for the first late delivery to Party B at the rate of 0.05% of the price of delayed Commodities per day in the delayed period, Party A shall pay the penalty to Party B at the rate of 0.5% of the price of delayed Commodities per day in the delayed period for the second postponement, and shall pay at the rate of 0.6% of the price of delayed Commodities per day in the delayed period for the third postponement. The penalty rate Party A shall pay to Party B will be increased 0.1% for every postponement. However, the total penalty for late delivery shall not exceed 5% of the total Contract Price."

Your kind assistance is very appreciated.

[Rover_KE]

Welcome to the forum, Ninth.

Your text appears to be grammatically correct. It's just as protracted, detailed, wordy and repetitive as I'd expect a legal document to be.

I don't think any of us would dare to tinker with the content. You need a legal expert for that.

Rover

[Ninth]

Dear Khun Rover,

Many thanks for your comments. I will seek advice from legal expert as you suggested, or may use the existing one.

Thank you again.

[Rover_KE]

What's Khun?

[Ninth]

Dear Khun Rover,

"Khun" is a Thai polite word putting in front of gentleman's or lady's name, like Mr. or Ms.

We will not call other people's name if they are not our friend or not at our same level. We will call him Khun Rover, Khun Richard, Khun Susan.

Thank you for asking.