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Indochine Counsel contributes as authors to Contract Laws of Asia – Liquidated Damages and Penalty Clauses publication

03/02/2023
Indochine Counsel Press Release

 
Ho Chi Minh City, 3 February 2023 – Released by the Asian Business Law Institute (ABLI) with support from its parent organization Singapore Academy of Law, the Contract Laws of Asia – Liquidated Damages and Penalty Clauses is the second full-fledged publication under ABLI’s Contracts Project which aims to produce a set of standard-form contract terms where risks are relatively evenly allocated and which can be valid in a majority of Asian jurisdictions.

This fully-cited, 148-page publication considers 12 jurisdictions and governing laws that are high priorities for parties contracting across borders in the Asia Pacific, and focuses on:

1. Practical operation of liquidated damages clauses in contracts in select common law jurisdictions, including restrictions placed on such clauses, defenses to claims under such clauses, treatment of claims under such clauses in the event of insolvency of the obligor, etc.
2. Whether the common law concept of liquidated damages exists in select civil law and hybrid jurisdictions, and if this concept does not exist, where are the analogous remedies available in those jurisdictions, and how those remedies differ from liquidated damages in the common law context.

Managing Partner Dang The Duc, and Junior Associate Ngo Dang Loc authored the chapter for Vietnam in the publication.

The publication is available here at the link https://payhip.com/b/FcgmI. The team has also contributed to an earlier compilation on indemnity clauses under this project which is available for free download here (link is https://payhip.com/b/lx83J).

About Indochine Counsel

Indochine Counsel is one of Vietnam’s leading law firms. It is a business specialty firm with nearly thirty lawyers in both Ho Chi Minh City and Hanoi. Founded 16 years ago, Indochine Counsel has seven partners and is capable of handling both boutique services and large M&A deals. For more information about Indochine Counsel, please visit our website at https://www.indochinecounsel.com.

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