Liquidated Damages in the DIFC Courts
Type
E-journal
Date
11 Apr 2016
Jurisdiction
Dubai
Taxonomy
Remedies in Contract Law
Copyright
LexisNexis
Relevant company
Al Tamimi & Company
Legal reference
DIFC Law No. 10/2004, DIFC Law No. 6/2004, DIFC Law No. 7/2005, Dubai Law No. 12/2004
Analysis
Liquidated damages clauses are a well-established concept in a number of different legal systems and business sectors.
They involve parties agreeing, by means of a contract, that a pre-determined sum is payable in the event that one of the parties breaches a term of the contract.