How to calculate daily penalty?

In commercial contracts, it is common to agree on fines when going over the deadline. This calculator computes these requirements for liquidated damages starting from either a calculation basis (e.g. contract sum) and rate of liquidated damages (e.g. 1 per mille), or simply an agreed daily penalty (e.g. 1500kr per day). On this calculator, daily penalty can be computed based on number of calendar days or weekdays, depending on what is specified in the agreement. The currencies that can be used are NOK, EUR, USD and GBP.

The results can be sent by e-mail.