How to pay the liquidated damages for delaying the performance of the contract
Determine the standard of deferred payment of money and debt. If the monetary payment obligation is delayed, it shall be paid at the rate of double the interest on the debt during the delayed performance. Because of the certainty of the amount standard of money payment, the calculation is relatively simple. On the determination standard of non-monetary payment obligation delay payment. There is also the problem of delaying the performance of non-monetary payment obligations in practice. Such as stopping the infringement, removing the obstruction, eliminating the danger, restoring the original state, repairing, redoing, replacing, eliminating the influence, restoring the reputation, apologizing, admonishing, and ordering to make a statement of repentance. , are non-monetary payment obligations.
Legal basis: Article 585 of the Civil Code of People's Republic of China (PRC).
The parties may agree that when one party breaches the contract, it shall pay a certain amount of liquidated damages to the other party according to the situation of breach of contract, and may also agree on the calculation method of the amount of compensation for breach of contract.
If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase the liquidated damages at the request of the parties; If the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties.
If the parties concerned pay liquidated damages for delayed performance, the breaching party shall also perform the debt after paying the liquidated damages.