[28/05/2015] St. Petersburg International Legal Forum – Legal Remedies in Case of Non-Performance of Obligations””

The panel “Legal Remedies in Case of Non-Performance of Obligations” will deal with the system of remedies, relations between the remedies and preconditions for their application. The aim of the panel is to analyse possible remedies that can be used in the case of non-performance of obligations; such remedies are primarily: requiring performance, withholding performance, price reduction, damages, termination of the contract, fine for delay and contractual penalty. The conditions for application of the said remedies are different. Thus, in the case of some remedies, their application depends on whether the non-performance is excused or not (e.g. damages); some remedies are, however, applicable irrespective of whether they are excused or not (e.g. price reduction, withholding performance). With regard to the requiring performance, it must be distinguished whether the obligation is monetary or non-monetary. In the case of compensating damage, it is important whether the damage could be foreseen; termination of contracts as a remedy can only be considered in the case of fundamental non-performance. An important issue from the viewpoint of the functioning of remedies as a system is which remedies can be used together, cumulatively and which ones cannot be used that way. Another important issue is the differences of application of remedies in the case of different types of contracts. Representatives of different countries will participate in the panel; respective regulations of different countries will be compared; also, modern international model laws such as Principles of European Contract Law, UNIDROIT Principles of International Commercial Contracts, Draft Common Frame of Reference (Principles, Definitions and Model Rules of European Private Law) will be covered. The topic of the panel is relevant for the improvement of legislation and law enforcement practice in Russia and other countries since, how performance of contractual obligations could be guaranteed better is the central question concerning economic development in all countries. Effective functioning of remedies plays an important role in securing the performance of contractual obligations.Moderator: Paul VarulSpeakers: Vsevolod Baibak Sunil Gadhia Vladimir Gureev Pavel Menshenin Ilya Nikiforov Denis Philippe Christian SchmiesFor more information : http://www.spblegalforum.com/