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Anonymous users2024-02-12When the creditor or debtor does not perform the debt at all or improperly, it must pay a certain amount of money to the other party as agreed. Liquidated damages are a kind of guarantee for debts, and they are also a kind of economic sanctions for default. The establishment of liquidated damages is to ensure the performance of the debt, even if the other party has not suffered any property loss under the Economic Contract Law of the People's Republic of China, it must pay liquidated damages in accordance with the provisions of the law or the contract.
The standard of liquidated damages shall be prescribed by law or agreed in writing by both parties in the contract. There are two kinds of liquidated damages: punitive liquidated damages, which are all used to punish, if the other party suffers property losses due to the breach of contract, the breaching party shall compensate the other party for the loss in addition to paying the liquidated damages.
Compensatory liquidated damages are a pre-estimate of the property losses that may be suffered by one party to the contract due to the other party's breach of contract, and the payment of liquidated damages exempts the breaching party from the liability to compensate the other party for the property losses suffered; Even if the loss is greater than the liquidated damages, no compensation will be made. Article 35 of the Economic Contract Law of the People's Republic of China stipulates that "when one of the parties violates an economic contract, it shall pay liquidated damages to the other party.
If the loss caused to the other party due to the breach of contract exceeds the liquidated damages, compensation shall also be made to compensate for the insufficient liquidated damages. ”
Modify the reply for .
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Anonymous users2024-02-11No, it is generally agreed by the parties to the contract.
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Anonymous users2024-02-10The legal provisions on liquidated damages for overdue construction are: national laws and regulations stipulate that the liquidated damages for project delay are generally paid according to the payment of the project payment beyond ten days, and the liquidated damages shall be paid according to the total amount of the project for each day of delay. If the acceptance exceeds the date specified in the contract, the overdue liquidated damages shall be repaid according to the provisions of the contract liability clause.
Article 585 of the Civil Code.
The parties may agree that one party shall pay a certain amount of liquidated damages to the other party according to the circumstances of the breach of contract, and may also agree on the calculation method of compensation for losses arising from the breach of contract.
If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase them at the request of the parties; Where the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties.
If the parties agree on liquidated damages for delayed performance, the breaching party shall also perform the debt after paying the liquidated damages.
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Anonymous users2024-02-09The maximum penalty for delay is 30% of the actual loss. The law stipulates that if one of the parties fails to perform its contractual obligations or the performance of its contractual obligations does not conform to the agreement, it shall bear the liability for breach of contract such as continuing to perform, taking remedial measures or compensating for losses, and if there is an agreement on damages, the agreement shall be followed; If there is no provision in the contract, the provisions of the indemnity clause under the general law shall apply. If the liquidated damages are too high or too low compared with the actual losses caused, the parties may request the court or arbitration institution to increase or decrease them appropriately.
The parties to the contract agree that the upper limit of liquidated damages is:
1. The upper limit of liquidated damages agreed by the parties to the contract shall not be excessively higher than the loss caused by the breach of contract, and the law does not clearly stipulate the specific amount.
2. The parties may agree that one party shall pay a certain amount of liquidated damages to the other party according to the circumstances of the breach of contract, and may also agree on the method of calculating the amount of compensation for losses arising from the breach of contract.
3. If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase them at the request of the parties; Where the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties.
Legal basis. Civil Code of the People's Republic of China
Article 577:Where one of the parties fails to perform its contractual obligations or its performance does not conform to the agreement, it shall bear liability for breach of contract such as continuing to perform, taking remedial measures, or compensating for losses.
Article 578:Where one of the parties expressly states or shows by its own conduct that it will not perform its contractual obligations, the other party may request that it bear liability for breach of contract before the expiration of the performance period.
Article 579:Where one of the parties fails to pay the price, remuneration, rent, or interest, or fails to perform other monetary debts, the other party may request payment from the other party.
Article 580:Where one of the parties fails to perform non-monetary debts or the performance of non-monetary debts does not conform to the agreement, the other party may request performance, except in any of the following circumstances:
1) Legally or factually unable to perform;
2) the subject matter of the debt is not suitable for compulsory performance or the cost of performance is excessive;
3) The creditor does not request performance within a reasonable period of time.
In the case of any of the exceptions provided for in the preceding paragraph, where the purpose of the contract cannot be achieved, the people's court or arbitration institution may, at the request of the parties, terminate the contractual rights and obligations, but this does not affect the assumption of liability for breach of contract.
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