Principles 
Biblio 
Materials 
Links 
Discussions Trans-Lex Administrative Information Document-ID: 948000 [click here to copy citation to clipboard] Please Cite as: "http://www.trans-lex.org/948000". Social Networks
No. VII.3.1 - Limits to claims for damagesDamages may not exceed the actual loss and are available only for loss which is proven by the aggrieved party, or where the amount of damages cannot be established with a sufficient degree of certainty, assessed by the court or tribunal. Trans-Lex Commentary [open]Please click below for (full) text references [doctrine] [national legislation] [model laws]There are no Threads related to this document. Open one by yourself. |
Trans-Lex in Social Media: 
|
Please cite as: "Commentary to Trans-Lex Principle No. VII.3.1 - Limits to claims for damages, http://www.trans-lex.org/948000"
1 The Principle confirms the essential function of damages as a compensation for the loss suffered by the aggrieved party. There are no punitive damages in transnational law. Rather, the damages may not exceed the actual loss suffered, which may include lost profits or further damages such as lost business chances.
2 Immaterial of the nature of the damage, any damage claim is subject to the general rules of burden of proof. This means that the aggrieved party must always prove the damages which it claims.
3 In special cases in which that party finds it impossible to quantify its damages, those damages may be quantified by the court or arbitral tribunal which enjoy a certain degree of discretion.