履行迟延又称逾期履行，是指在合同债务已经到期，合同当事人不按法定或者约定的时间履行的情况。迟延履行又分为债务人迟延履行、债权人迟延受领。履行迟延是实践中较常见的债务违反的形态。履行迟延是以一定的时间来确定的，通常是以债的履行期届至时债务人有无履行债务来判断的。
合同的惩罚条款，授权原告在发生履行迟延(default)的情况下，从被告心脏附近割下一磅肉来。
The penalty clause entitled the plaintiff, in the event of default in payment, to extract a pound of flesh nearest the defendant's heart.
当事人就迟延履行约定违约金的，违约方支付违约金后，还应当履行债务。
Where the parties prescribed liquidated damages for delayed performance, the breaching party shall, in addition to payment of the liquidated damages, render performance.
裁决应以书面形式作出，并且应为终局的并对当事人各方均具有约束力。当事人各方应承担毫不迟延地履行裁决的义务。
The award shall be made in writing and shall be final and binding on the parties. The parties undertake to carry out the award without delay.
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