How to calculate the forfeit of the contract correctly?

At the conclusion of the delivery document, the parties have many incomprehensible things. One of the most popular questions is how to calculate the forfeit under the contract? This is not a difficult thing, as it may seem at first glance. The rules are fairly clear, and for this you do not need to be a lawyer. It is important to read in the contract the necessary sections, paragraphs.

What is a penalty?

Most people at least once signed a contract. Attentive persons read the contents of the document, in which there is necessarily a responsibility for the violation. Information on forfeit is in Article 330 of the Civil Code of the Russian Federation. There is also information how to calculate the penalty under the contract?

A penalty is the amount paid by the infringer to the other party when the obligations stated in the contract are not fulfilled. The forfeit can be in the form of a fixed amount, which is called a fine, and also in the form of a percentage, called interest. How to calculate the forfeit under the contract?

Calculation rules

You need to be able to correctly calculate the penalty under the contract. The calculator in this will help. The penalty calculation formula is used when there is a violation of the terms of the document. It needs to be known to both parties, which will help determine the exact amount of payments.

How to correctly calculate the penalty for the contract, so as not to be mistaken. First you need to set a few indicators used in calculating the interest:

• The amount from which the forfeit will be calculated: this may be the paid part or not;
• The amount of interest prescribed in the contract for violation of its terms;
• Time period (for example, the days of delay in the delivery of goods or non-payment).

If this data is available, it will be possible to calculate the forfeit under the equity agreement. Other information will not be required.

Calculation formula

A special formula will help you calculate the penalty under the contract of equity participation. The calculator also works on this principle. The amount of the contract must be multiplied by the interest rate, and then by the time of the delay.

Example. The contract was signed for the purchase of building materials for 10,000 rubles. The delivery period is 10 days from payment. Nothing was provided for the designated period. The delay is 2 weeks.

The document indicates that if the buyer has a delay, there is a right to collect penalties of 1% of the amount for each day. It turns out that the calculation of the penalty is as follows: 10 000 x 1% x 14 = 1 400 rubles. This example clearly shows how to calculate the forfeit under the supply contract.

Sometimes the agreement does not specify the amount of interest. Usually there it is indicated that the penalty is calculated on the basis of the legislation of the Russian Federation. Then the penalty is calculated at the rate of the Central Bank of Russia, and you can find it on the official website. In the Civil Code, too, there is information how to calculate a penalty under the contract.

Receiving a penalty

In order to receive money from the offender, it is necessary to apply to him about self-willed payment. A written claim must be made. It should include the details of the document, the need to pay penalties, the calculation of penalties, the offer of voluntary repayment, method and time limit.

An appeal to the infringer of rights with a claim is a compulsory step. If this does not work, and no action on his part is not followed, then it is necessary to apply to the court. Then the whole situation will be considered in detail, which will take a lot of time. It is best to negotiate voluntarily, and this requires the active negotiation between the parties.

What is the forfeit?

There is a normative and contractual penalty, which is calculated on the basis of legislation and the contract. Therefore, any legal sanction can be normative and contractual. Because of this, riots often occur. For convenient calculation there is a penalty, penalty and fine.

Penalty is legal and contractual. The sanction is presented in the form of a payment for default. Penalties are calculated as a percentage.

Forfeit penalties are:

• Credits;
• Penalties;
• Exceptional;
• Alternative.

This distribution is indicated in Article 394 of the Civil Code of the Russian Federation. Penalty forfeit is paid in full, so it is considered the most reliable. In the alternative, the infringing party has the right to choose compensation for damage. Exclusive involves the payment of funds without payment of damages. The credit is considered a fine, the amount of which is not covered by a penalty. Payment of any penalty is voluntary and by judicial decision.

How to determine the period of delay?

At the conclusion of the document, the parties shall enter information on the need to pay the penalty in case of violation of the conditions. It is necessary to do this, as the parties will try to comply with all the rules of the transaction, so as not to pay extra money.

In case of violation, the culprit pays to the injured party a fixed amount or a fine. In the first case, there are usually no questions about the amount of payment. The document may include a percentage suitable to both parties.

If the obligations were not met before the due date, the delay will be calculated from the next day. The fulfillment of obligations is prescribed in the act of acceptance-transfer of goods. The calculation takes into account working, weekends and holidays. The calculated value of the offender must be paid to the other party.

Breach of deadlines

According to the legislation, the violation of the deadlines for the execution of works is unacceptable, because of what the contractor becomes responsible. The customer may demand a reduction in the price of the work, terminate the contract or transfer the performance of obligations to another firm.

Usually, the parties enter into a contract in which the rights and obligations of the parties are prescribed. The customer may demand payment of money in case of violation of the terms of the document. He also has the right to appoint a new deadline for the execution of work.

The customer has the opportunity to demand payment of penalties for each day, hour, depending on what is indicated in the contract. But usually the first option is used. This allows you to compensate for the harm caused. At the same time, the obligations must be fulfilled completely.

Nuances of forfeit calculation

Interest is accrued until the time when there is no full discharge of obligations, for example, until the goods arrive. It is necessary to take into account that if in the contract there is no way of setting the rate, then it is necessary to take the refinancing rate, which is at the time of payment.

It is necessary to distinguish the delay for failure to fulfill obligations from interest for using the money received on a loan or a loan. The penalty is used for incomplete fulfillment of obligations. To fully understand this area, it is advisable to contact a lawyer. He will talk about the principles of legislation that will help to properly complete the transaction. Elementary knowledge is also needed to properly formalize the contract.