Prof. Dr. Klaus Peter Berger, LL.M.transnational lawtransnational law (lex mercatoria or international business law) and "Manner of payment of damages"2019-04-18 15:02:40https://www.trans-lex.org/img/logo_ball.png
Document-Id: 948770, Please cite as: "Principle VII.3.4 - Manner of payment of damages at https://www.trans-lex.org/948770"
Principle VII.3.4 - Manner of payment of damages at https://www.trans-lex.org/948770
Principle
No. VII.3.4 - Manner of payment of damages
(a) Damages are to be paid in a lump sum. They may be payable in instalments where the nature of the harm makes this appropriate.
(b) Damages to be paid in instalments may be indexed.
1 The first sentence of subsection 1 spels out the general rule for the payment of damages. In rare cases, however, a party may demand or the court or arbitral tribunal may order the payment of damages in (monthly, quarterly, yearly etc.) instalments, depending on the nature of the harm for which damages are awarded.
2 If damages are to be paid in instalments, they may be indexed so as to avoid regular review of the judgement or arbitral award which would be necessary in order to take account of inflation.
Please cite as: "Commentary to Trans-Lex Principle VII.3.4 - Manner of payment of damages, https://www.trans-lex.org/948770"
1 The first sentence of subsection 1 spels out the general rule for the payment of damages. In rare cases, however, a party may demand or the court or arbitral tribunal may order the payment of damages in (monthly, quarterly, yearly etc.) instalments, depending on the nature of the harm for which damages are awarded.
2 If damages are to be paid in instalments, they may be indexed so as to avoid regular review of the judgement or arbitral award which would be necessary in order to take account of inflation.
Please cite as: "Commentary to Trans-Lex Principle VII.3.4 - Manner of payment of damages, https://www.trans-lex.org/948770"