How to calculate the penalty on the contract correctly?

At the conclusion of the delivery document from the partiesthere are many incomprehensible things. One of the most popular questions is how to calculate the forfeit under the contract? This is not a difficult thing, as it may seem at first glance. The rules are fairly clear, and for this you do not need to be a lawyer. It is important to read in the contract the necessary sections, paragraphs.

how to calculate a contract penalty

What is a penalty?

Most people at least once signed a contract. Attentive persons read the contents of the document, in which there is necessarily responsibility for the violation. Information about the forfeit is in Article 330 of the Civil Code of the Russian Federation. There is also information on how to calculate the forfeit under the contract?

A penalty is the amount paidThe infringer to the second party at default of the obligations registered in the contract. The forfeit can be in the form of a fixed amount, which is called a fine, and also in the form of a percentage, called interest. How to calculate the forfeit under the contract?

Calculation rules

It is necessary correctly to be able to calculate the penalty oncontract. The calculator in this will help. The penalty calculation formula is used when there is a violation of the terms of the document. It needs to be known to both parties, which will help determine the exact amount of payments.

calculate a penalty under an equity agreement

How to correctly calculate the penalty for the contract, so as not to be mistaken. First you need to set a few indicators used in calculating the interest:

  • the amount from which the penalty will be calculated: it may be the paid part or not;
  • the amount of interest prescribed in the contract for violation of its terms;
  • time period (for example, the days of delay in the delivery of goods or non-payment).

If this data is available, it will be possible to calculate the forfeit under the equity agreement. Other information will not be required.

Calculation formula

A special formula will help you calculate a penaltyunder the contract of equity participation. The calculator also works on this principle. The amount of the contract must be multiplied by the interest rate, and then by the time of the delay.

calculate a contractual penalty

Example. The contract was signed for the purchase of building materials for 10,000 rubles. The delivery period is 10 days from the payment. Nothing was provided for the designated period. The delay is 2 weeks.

The document indicates that if thethe buyer has the right to collect penalties of 1% of the amount for each day. It turns out that the calculation of the penalty is as follows: 10,000 x 1% x 14 = 1,400 rubles. This example clearly shows how to calculate the forfeit under the supply contract.

Sometimes the agreement does not indicate the amount of interest. Usually it states that the calculation of penalties is based on the legislation of the Russian Federation. Then the penalty is calculated at the rate of the Central Bank of Russia, and you can find it on the official website. In the Civil Code, too, there is information how to calculate the penalty under the contract.

Receiving a penalty

To receive money from the offenderit is necessary to apply to him about self-willed payment. A written claim must be made. It must include the requisites of the document, the need to pay penalties, the calculation of penalties, the offer of voluntary repayment, the method and the time limit.

calculate the forfeit under the contract of equity participation calculator

Appeal to the infringer of rights with the claim ismandatory step. If this does not work, and no action on his part is not followed, then it is necessary to apply to the court. Then the whole situation will be considered in detail, which will take a lot of time. It is best to negotiate voluntarily, and this requires the active negotiation between the parties.

What is the forfeit?

There is a normative and contractual penalty, whichis calculated on the basis of legislation and contract. Therefore, any legal sanction can be normative and contractual. Because of this, riots often occur. For convenient calculation there is a penalty, penalty and fines.

Penalty is legal and contractual. The sanction is presented in the form of payment for non-fulfillment of obligations. Penalties are calculated as a percentage.

Forfeit penalties are:

  • credits;
  • Penalties;
  • exceptional;
  • alternative.

This distribution is indicated in Article 394 of the Civil Code of the Russian Federation. Penalty penalty is paid in full, so it is considered the most reliable. With an alternative, the infringing party has the right to choose compensation for damage. Exclusive involves the payment of funds without payment of damages. The credit is considered a fine, the amount of which is not covered by the forfeit. Payment of any penalty is voluntary and by judicial decision.

How to determine the period of delay?

At the conclusion of the document, the parties shall enter informationon the need to pay a penalty in case of violation of conditions. This must be done, as the parties will try to comply with all the rules of the transaction so as not to pay extra money.

how to calculate the penalty under the contract

In case of violation, the culprit pays the injured personparty a fixed amount or a fine. In the first case, there are usually no questions about the amount of payment. The document may include a percentage suitable for both parties.

If the obligations were not until the required datethe delay will be calculated from the next day. The fulfillment of obligations is prescribed in the act of acceptance-transfer of goods. The calculation takes into account working, weekends and holidays. The calculated value of the offender must be paid to the other party.

Breach of deadlines

According to the legislation, violation of the deadline for executionwork is unacceptable, because of what the contractor becomes responsible. The customer can demand a reduction in the price of the work, terminate the contract or transfer the performance of obligations to another firm.

Usually, the parties enter into a contract in whichthe rights and obligations of the parties are prescribed. The customer can demand payment of money in case of violation of the terms of the document. Also, he has the right to appoint a new deadline for the execution of work.

The customer has the possibility of requiringpayment of penalties for each day, hour, depending on what is indicated in the contract. But usually the first option is used. This allows you to compensate for the harm caused. At the same time, obligations must be fulfilled completely.

Nuances of forfeit calculation

Interest is accrued until the timewill be full performance of obligations, for example, until the goods arrive. It should be borne in mind that if there is no way to set a rate in the contract, then it is necessary to take the refinancing rate, which is at the time of payment.

how to calculate a contractual penalty

It is necessary to distinguish delay in non-fulfillmentliabilities from interest for the use of money received on a loan or a loan. The penalty is used for incomplete fulfillment of obligations. To fully understand this area, it is advisable to contact a lawyer. He will talk about the principles of legislation that will help to properly complete the transaction. Elementary knowledge is also needed to properly formalize the contract.

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