1 thought on “How is the liquidated damage calculated”
Gertrude
Legal analysis: Calculation criteria for liquidated damages: (1) The contract has a specific agreement on the liquidated damages in accordance with the agreement. If there is no contract or an agreement on the liquidated damages, it is not agreed. (2) The calculation basis for liquidated damages is the total contract price. (3) The amount of liquidated damages is generally limited to the total amount of prices that do not exceed the part of the contract. Legal basis: Article 585 of the Code of the People's Republic of China The party may agree that one party should pay a certain amount of liquidated damages to the other party in accordance with the breach of contract. Calculation method of loss compensation. The agreed liquidated damages are lower than the losses caused, and the people's court or arbitration agency may increase according to the request of the parties; if the agreed liquidated damages are too high than the loss caused, the people's court or arbitration agency may follow the party's request of the parties' requests Appropriate reduction. If parties to delay the delay in fulfilling the agreed liquidated damages, the default party shall also perform the debt after paying the liquidated damages.
Legal analysis: Calculation criteria for liquidated damages: (1) The contract has a specific agreement on the liquidated damages in accordance with the agreement. If there is no contract or an agreement on the liquidated damages, it is not agreed. (2) The calculation basis for liquidated damages is the total contract price. (3) The amount of liquidated damages is generally limited to the total amount of prices that do not exceed the part of the contract.
Legal basis: Article 585 of the Code of the People's Republic of China
The party may agree that one party should pay a certain amount of liquidated damages to the other party in accordance with the breach of contract. Calculation method of loss compensation.
The agreed liquidated damages are lower than the losses caused, and the people's court or arbitration agency may increase according to the request of the parties; if the agreed liquidated damages are too high than the loss caused, the people's court or arbitration agency may follow the party's request of the parties' requests Appropriate reduction.
If parties to delay the delay in fulfilling the agreed liquidated damages, the default party shall also perform the debt after paying the liquidated damages.