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CANCELLATION POLICY If the charterer wishes to cancel any Flight or Flights the subject of this agreement the following rates will be paid forthwidth by the charterer to DAC as agreed compensation:
25% of the Charter Price if cancelled after execution of this agreement;
50% of the Charter Price if cancelled with 7 days prior to STD;
75% of the Charter Price if cancelled 48 prior to STD;
100% of the Charter Price if cancelled within 24 hours of STD;

The Charterer accepts the above cancellation charges to be a reasonable pre-estimate of the losses that DAC shall sustain in the event of cancellation of any flight.
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