When concluding an agreement for the provision of services, goods or works, it is imperative to pay attention to the paragraph containing information on the timing of the fulfillment of obligations and the applicable penalties. The same applies to loan agreements. In most cases, both parties are oblivious to the consequences of delay or delay, leading to litigation and additional costs.
It is necessary
Careful study of all clauses of the agreement before signing it
Instructions
Step 1
The most common sanction for non-fulfillment or improper fulfillment of obligations under the contract is forfeit. It is expressed in a certain amount of money. This can be a flat amount, a percentage of the outstanding amount, or a percentage of the full amount.
Step 2
The penalty can be both contractual and legal, contractual is established by agreement of the parties, and legal is applied even if it is not provided for by the contract.
Step 3
If both parties agree to change the period by concluding an additional agreement to the existing agreement, for which the forfeit is to be paid, the sanctions will not be calculated until the obligations are fulfilled.
Step 4
It is in the interests of the debtor to set a later date for determining the amount of the contractual penalty, since the refinancing rate may decrease.
Step 5
The very first task is to pay off the main debt, then it will be more likely to avoid litigation, which will entail additional costs.
Step 6
The maximum amount of the forfeit has not been established by law. However, if it is not commensurate with the consequences of the breached obligations, it can be reduced in the course of legal proceedings. The court may reduce the penalty at its own discretion and without the debtor's petition.
Step 7
If the debtor believes that the sanctions are exaggerated, he can submit a written motion that will help convince the court to reduce the amount of the fine or interest.
Step 8
If the amount of the forfeit significantly exceeds the amount of possible or incurred losses, then there is no economic reason to collect the forfeit in full.
Step 9
One of the reasons to reduce the fine or penalty interest may be the insistence of the debtor that he did not receive financial benefits by not fulfilling his obligations on time.
