Contractual Penalties overview

Contractual penalty concept

The Civil Code and more specific Chapter V of the Contracts Law establish statutory contractual penalty concept.

Chapter V of the Contracts Law provides for different kinds of liability which can be applied with respect to various types of breaches if no other different liability rules are fixed in contracts.

Chapter V of the Contracts Law provides statutory liability for the following types of breaches:

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Contractual Penalties overview

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