Current location - Trademark Inquiry Complete Network - Futures platform - What is the penalty standard for late delivery?
What is the penalty standard for late delivery?
Legal analysis: China does not explicitly stipulate the delay in delivery, but the delay in delivery is a breach of contract, and the shipper needs to pay liquidated damages or compensate the other party for losses. If the buyer's contract purpose cannot be realized due to the delay in delivery, the buyer may also terminate the contract and demand the shipper to compensate for the losses. Article 577 of the Civil Code of People's Republic of China (PRC): If a party fails to perform its contractual obligations or fails to perform its contractual obligations, it shall be liable for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.

Legal basis: