Compensation practice for loss in international trade

EHSAN AHMADISHAHALIBEGLOO, Soheyla Ashtarimahini

Abstract


International sale contracts are one of the most common relationships that meet human needs. Obligation of compensation for loss or damage is one of guarantees for performing contractual commitments and effects of obligation that in fact is considered in real loss compensation. Hence, the objective of contract signing is perfect performance of its commitments. However, such goal is not achieved in some cases so there will be losses against one of contract parties or third parties. This study was conducted to investigate the loss compensation practice in international trade using descriptive-analytical method. The objective of this study was to develop analytical discussions about compensation practice for losses against international trade in order to become familiar with applicable solutions for committed person in contracts; in this regard, losses or damages against individuals or governments can be compensated considerably.
Keywords: Loss, Compensation Practice, Contract, International Trade

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ISSN : 2251-1571