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What is Interest: I. Preconditions about?

Article 78 of the CISG establishes the right to claim interest on sums in arrears when a party fails to make payment. The duty to pay interest arises without the need for notice to the debtor, and the interest rate is not specified by the CISG, leading to various interpretations regarding its determination. Additionally, the interest claim does not preclude the possibility of claiming damages under Article 74 if the actual damages exceed the interest owed.

Author

larapezzera

Language

EN