Damages for delay in payment and its claim in law and judicial procedure
Subject Areas : حقوق خصوصی
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Keywords: Damages for late payment, debtor, obligation, judicial procedure,
Abstract :
If the obligee in monetary obligations does not pay the amount owed to the creditor after the debt is demanded by the creditor, the creditor will suffer losses due to the decrease in the value of money due to inflation. In such a situation, the creditor is entitled to claim damages under the name of late payment damages. Damage for late payment is the amount that the debtor (debtor) is obliged to pay to the creditor in case of delay in paying his debt. This type of damage actually compensates for the loss caused by the decrease in the value of money due to inflation, as well as the loss of investment opportunities for the creditor due to the delay of his money with the debtor.Damage for late payment is a legal damage stipulated in Article 522 of the Civil Procedure Law, which deals with cases of delay in fulfilling financial and monetary obligations such as checks, promissory notes, prices, rent, etc. is; However, the damage for the delay in fulfilling the financial and monetary obligation is a contractual and agreed damage, the terms of which are clarified in Article 230 of the Civil Law. The research method in this article is descriptive-analytical, and the method of collecting materials is library and documentary.