Article 34. Indemnification

On contracting and legal basis of activity of business entities (670-I-son) · Date: 29.08.1998 · In force

Regardless of the payment of a penalty (fine, surcharge), the party that violated the contractual obligations shall indemnify the other party for the damages resulted from this.

The losses incurred include expenses incurred by a party or due to be incurred due to non-performance or improper performance of a contractual obligation, loss of or damage to property, and income not received by a party, but could have been received had the other party performed the contractual obligation.

Payment of a penalty (fine, surcharge), established in case of delay or other improper performance of contractual obligations, and compensation for losses caused by improper performance of contractual obligations, do not exempt the parties from the obligation in kind, except those specified by law or contract.

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Source of the text

National Database of Legislation of the Republic of Uzbekistan (lex.uz). Original on lex.uz: lex.uz/docs/4403244

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Cite as: Article 34. Indemnification On contracting and legal basis of activity of business entities (670-I-son). neolex.uz/en/laws/law-10872/34 (lex.uz/docs/4403244)