In April 2020, the British courts considered the development of compensation clauses and, in particular, whether a compensation clause would apply to damages incurred prior to the signing of a sale and sale contract between the parties. In the end, the key points in determining whether the compensation was applied were the tension of the verb used in the award, as well as the placement of the clause in the agreement, the specific and general treatment of the guarantees and limitations of claims, and the broader context of the G.S.O. Cross-border transactions offer new and exciting opportunities for your business at the same time, can be a challenge. If you have mastered the cultural nuances of negotiating tactics, then comes the question of drawing up your agreement; Ensure that you have taken into account the laws and regulations of an often unknown jurisdiction. Nevertheless, “dotting the i`s and crossing the t`s” with a party in China (or if you are a Chinese party, with an overseas party) should not be complicated. Make sure you get a head start by understanding the following five FAQs that have been dissected and demystified by our team of experts in our Guangzhou representative office. February 11, 2015 Gwynt Mér OFTO plc (the “Claimant”) has entered into a sale agreement with Gwynt Mér Offshore Windpark Ltd (with other “defendants”) (the “SPA”) for the acquisition of the ownership, maintenance and operation of the electrical transmission link between the Gwynt y Mér wind farm, off the coast of the North Whale (the “wind farm”) Among the assets involved in the transfer were four under-sea export cables (the “cables”). The transfer was completed on February 17, 2015. The applicant sought a re-invasive costs of US$15 million by the defendants, citing compensation under clause 8.2 of the OSG, which states that the defendants agreed to compensate the applicant for the full cost of restitutio in integrum of assets destroyed or damaged prior to completion (“pre-injury”) (“compensation”). Under English law, where a contract does not have a contractual compensation clause and does not explicitly state a certain amount to be paid in the event of an infringement, the innocent person must claim a bonus of damages for breach of common law in the event of a breach of contract.
The underlying principle is similar to the law of the PRC, with the aim of compensating the victim for the loss rather than punishing the wrongdoer.