Cookies Policy
X

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here

Penalty Clauses

Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

Access this chapter

+ Tax (if applicable)

Chapter Summary

A penalty clause can be defined as one stipulating payment of a sum of money in the event of non-performance of a contractual obligation, with a purpose either of pure indemnification or of deterrence. This chapter seeks to establish the differences between penalty clauses and certain similar provisions, such as judicial penalties or withdrawal payments. There are three possible ways of setting out the analysis: clauses can be considered according to the type of contract from which they are taken; they can be classified according to the type of breached obligation that they seek to penalize; the different technical aspects of clauses considered can be classified. The chapter sets out main findings emerging from the analysis of sample of clauses under consideration. It shares some thoughts on the practice relating to penalty clauses in international contracts and on the main legal problems encountered in practice.

Keywords: contractual obligation; international contracts; judicial penalties; penalty clause; withdrawal payments

10.1163/ej.9781571053558.i-654.33
/content/books/10.1163/ej.9781571053558.i-654.33
dcterms_subject,pub_keyword
6
3
Loading

Sign-in

Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
     
    Drafting International Contracts — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation