CASE LAW NO.09/2016/AL ON DETERMINING AVERAGE OVERDUE INTEREST RATE ON THE MARKET AND PAYMENT OF INT

Situation 1:

The contract for sale of goods is breached because the seller failed to deliver or delivered insufficient goods to the buyer, causing the seller to be obligated to return the advance payment and overdue interest for late payment.

Solution 1:

In this case, the overdue interest is determined on the basis of the average overdue interest rate on the market of at least three local banks at the time of payment (firstinstance hearing), unless otherwise agreed by the parties or stipulated by the law.

Situation 2:

With respect to the contract for sale of goods, there arise the obligations to pay penalties for breach and compensation for damages.

Solution 2:

In this case, the obligor is liable for paying the penalties for breach and compensation for damages, but is not obligated to pay interest on the penalties for breach and compensation for damages

Link PDF: CASE LAW NO.09/2016/AL

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