We placed an order for some goods that are urgently needed but they haven’t been delivered by the agreed date, can we cancel the contract on the basis of delay?

If it is specified in the contract that ‘time is of the essence’ for the obligation of delivery on time, this will entitle you to terminate the contract even if the delivery date is missed by the seller by only a narrow margin.

‘Time is of the essence’ can also be implied in contracts, that is, to infer from the contract wording and circumstances whether the parties have intended even a slight delay to lead to a right to terminate the contract.