Liquidated damages for overdue ICBC credit cards are penalties for cardholders who fail to repay on time, and generally cannot be reduced or reduced through negotiation.

However, in special circumstances, if the overdue payment is not caused by the cardholder’s subjective intention, such as the inability to repay the loan as scheduled due to force majeure such as unemployment or serious illness; or the overdue due to the bank’s fault, etc., relevant evidence can be provided. The bank negotiates for a reduction or exemption of liquidated damages, and even raises objections and applies to restore credit after repayment.

1. Liquidated damages refer to the money that should be paid to the other party if one party breaches the contract according to the agreement of the parties or direct provisions of the law. The standard for liquidated damages is money, but the parties may also agree that the subject matter of liquidated damages is property other than money. Liquidated damages have the effect of guaranteeing the performance of debts, and also have the effect of punishing the defaulter and compensating the losses suffered by the party without fault. Therefore, some countries use it as one of the measures to guarantee the contract, and some countries use it as a liability for breach of contract. way of bearing responsibility.

2. Function

1. To urge the parties to perform the contract.

2. It is to compensate the losses caused by one party’s breach of contract to the other party.

3. It is to sanction the defaulting party.

3. Classification:

1. Statutory liquidated damages

Liquidated damages directly stipulated by law are statutory liquidated damages. Statutory liquidated damages are the proportion of liquidated damages expressly stipulated in some laws and regulations (such as the "Regulations on the Purchase and Sales Contract of Industrial and Mineral Products", the "Regulations on the Purchase and Sales Contract of Agricultural and Sideline Products", etc.). The contract stipulates liquidated damages in principle, and relevant regulations stipulate the proportion of liquidated damages, and statutory liquidated damages shall apply. In this case, due to differences in the content of the contract, the nature and degree of breach of contract, the methods and amounts of liquidated damages are also different.

(1) If the relevant regulations clearly stipulate the proportion of liquidated damages, the amount of liquidated damages can be directly calculated based on this proportion. For example, Article 35, Item 5 of the "Regulations on the Purchase and Sale of Industrial and Mining Products" stipulates that in case of overdue delivery, the liquidated damages for overdue delivery shall be paid to the demander based on the total value of overdue delivery in accordance with the provisions of the People's Bank of China on deferred payment. . It is clearly stipulated here that the proportion of liquidated damages for delayed delivery is three ten thousandths per day. For another example, Article 21, Item 4 of the Regulations on Processing Contracts stipulates that if an ordered product is delivered overdue, liquidated damages shall be paid to the ordering party in accordance with the provisions of the contract. Calculated in terms of remuneration, liquidated damages shall be paid at one thousandth of the total remuneration for the overdue delivery part for each overdue day. It can be seen that the calculation standard for statutory liquidated damages for delayed performance of a contract is fixed. Various demurrage charges, late payment fees, etc. shall apply as specified above.

(2) Relevant regulations only stipulate a certain proportion of liquidated damages. This requires the people's court or contract arbitration authority that accepts the case to determine a certain ratio in order to calculate the amount of liquidated damages. For example, Article 35, Item 1 of the "Regulations on Purchase and Sale Contracts of Industrial and Mining Products" stipulates that if the supplier cannot deliver the goods, it shall pay liquidated damages to the demander. The liquidated damages for general products range from 1% to 5% of the total value of the goods that cannot be delivered. Generally speaking, statutory liquidated damages for non-performance or incomplete performance of a contract are within a certain proportion.

2. Liquidated damages

Liquidated damages are agreed upon by the parties and are liquidated damages. The stipulation of liquidated damages is a contractual relationship, which is called a liquidated damages contract. This type of contract is a subordinate contract. The main contract is invalid and the liquidated damages contract is invalid. A liquidated damages contract is a promise contract, which is different from a deposit contract in that it does not require advance payment as a condition for establishment. The liquidated damages contract is also a conditional contract. Usually, if a breach of contract occurs, the liquidated damages contract will take effect; if the breach of contract does not occur, the liquidated damages contract will not take effect.

There are many types of breach of contract, and liquidated damages contracts can be general or specific. A general liquidated damages contract means that the parties do not make specific distinctions between the breach of contract and generally agree to pay liquidated damages for any breach of contract. Specific liquidated damages contracts refer to the liquidated damages agreed upon by the parties for different breaches of contract, such as liquidated damages for fundamental breach of contract, liquidated damages for non-performance of debts, liquidated damages for partial performance of debts, and liquidated damages for delayed performance of debts.