Penalty charge for not meeting the Delivery date by the vendor

Dear Sapians,
My client want to have Liquitidy damage charged to the vendor if he fails to meet the agreed delivery date. For example PO Delivery date is 10-08-2007 and the vendor delivers the material after 10-08-2007 , then the purchase price has to be reduced.
Kindly suggest me as to how to bring this in SAP
Best Regards
Sukumaran.E

Hallo Sukumar,
There is no settings available in std,  I think you have to do enhancement for this.
SAP expert in this forums may help you
Regards,
sriram

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