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A study on Liquidated damages for delay in Construction Contract

  • DONG-A LAW REVIEW
  • 2019, (82), pp.179-214
  • DOI : 10.31839/DALR.2019.02.82.179
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law
  • Received : January 31, 2019
  • Accepted : February 20, 2019
  • Published : February 28, 2019

SEOG JIYOON 1

1연세대학교

Accredited

ABSTRACT

Liquidated damages for delay are concluded for the purpose of ensuring the fulfillment of obligations through the psychological enforcement of the debtor, avoiding difficulties in proving the damages of the contractor, preventing the strife in advance and simplifying the legal relationship concerning damages. In order to secure the fulfillment of the obligations of the provider and to avoid the difficulties of verification, it is the purpose of the delayed pension system, Article 398 (4) of the Civil Code assumes that the contract of the penalty is the planned amount of damages, In the light of the fact that it is too harsh for the supplier, it is reasonable to assume that the compensation prize is the planned amount of compensation for damages or the compensation for damages if it can not be confirmed. The Rate of liquidated damages for delay rate is 18% or more when converted to annual interest rate, which is very high in view of the 3.5% annual interest rate. In order to ensure mutual satisfaction between the two parties, it is desirable to apply the differentiated payment rate according to the amount of the contract in consideration of the size and kind of the corporation. It is also desirable to limit the upper limit of the money to the contract deposit. The dispute related to the liquidated damages for delay can be regarded as the confirmation of facts such as the existence of the cause of exemption, the calculation period of the liquidated damages for delay, and the recognition of the reduction rather than the legal dispute. Therefore, in order to minimize the disputes related to the liquidated damages for delay, it is necessary to revise the general conditions of construction contracts and the general conditions of contracts of private construction contracts, which are frequently used in actual transactions, so as to limit the upper limit of rate of liquidated damages for delay, And it is necessary to flexibly extend the contract period.

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