How much is the developer's penalty for delay in delivery
4hw.com.cn: many people buy a house to build their own warm home, which is the expectation of many people. According to the housing sales contract, the general developer is to hand over the house on time, so the developer delay hand over the house, how to determine the penalty? How should buyers claim their rights and interests?
Article 114 of the contract law of the people's Republic of China stipulates: "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 circumstances of the breach; they may also agree on the calculation method of the amount of compensation for the losses arising from the breach. If the agreed penalty is lower than the loss caused, the parties may request the people's court or arbitration institution to increase it; if the agreed penalty is too higher than the loss caused, the parties may request the people's court or arbitration institution to reduce it appropriately. '
Article 16 of the interpretation of the Supreme People's Court on Several Issues concerning the application of law in the trial of disputes over commercial housing sales contracts stipulates: "if a party requests a reduction on the ground that the agreed penalty is too high, the penalty shall be appropriately reduced according to the standard that the penalty exceeds 30% of the loss caused; If the parties request an increase on the ground that the agreed liquidated damages are lower than the losses caused, the amount of liquidated damages shall be determined on the basis of the losses caused by the breach of contract. '
According to the above provisions, the buyer can require the developer to pay liquidated damages according to the bank loan interest according to the contract; if the liquidated damages are not enough to make up for the losses caused by the developer's delay in delivery, the buyer can 'request an increase on the ground that the agreed liquidated damages are lower than the losses caused'.
As for liquidated damages, it is generally agreed to comply with the agreement, if not, claim the corresponding liquidated damages according to the law.