Contractual penalty - When is the payment?

Hi, our house will not be ready for occupancy by 01.10. as agreed. For this reason, a contractually agreed penalty of €60 per day applies. Unfortunately, we have not agreed on payment modalities. However, we do not want it to be offset against the final installment. Is there a legal regulation on how the payment must be made? For example, weekly payment?

Thank you and best regards Frank

Hello Frank,

Hi, our house will not be ready for occupancy on 01.10. as agreed. For this reason, a contractually agreed penalty of €60 per day applies. Unfortunately, we have not agreed on payment modalities. However, we do not want it to be offset against the final installment. Is there a legal regulation on how the payment must be made? For example, weekly payment?

According to which contract terms did you conclude your construction contract? According to VOB or the Building Code and which §§ are listed as bindingly agreed under the point penalty clause?

Best regards from the Rhineland

According to VOB. No paragraph is mentioned.
Best regards Frank