Kavitha Gupta's blog

Liquidated damages: a note of caution Herbert Smith Freehills LLP Asia-Pacific October 29 2010 Liquidated damages: a note of caution It is common for construction contracts to include a liquidated damages clause that quantifies and limits the compensation which will be payable for certain types of breach. However, owners and contractors operating in the Asia Pacific region are sometimes surprised to find that these clauses do not provide them with the certainty they intended and expected. This newsletter highlights some key features of liquidated damages clauses. It then explores a number of issues that parties should bear in mind when planning to negotiate or enforce a liquidated damages clause in this region. Liquidated Damages A liquidated damages clause specifies an amount that will be payable as compensation in case of certain breaches of the contract. Liquidated damages are most often used as a remedy for delay and this newsletter will discuss them in t...

The benefits and drawbacks of liquidated damages clauses Clyde & Co LLP prev next Singapore December 1 2016 General Ingredients of a Loss of Profits Claim In general, if there is no liquidated damages clause in a hotel management agreement, then in order to prove a loss of profits claim for wrongful termination, the operator will need to prove the following elements: that the agreement was wrongfully terminated; that it is entitled to its loss of profits for the wrongful termination under the governing law of the agreement; the value of its loss of profits claim. The method of proving each of the above is usually as follows: the wrongful termination is proved through documents and other evidence (including witness evidence). Usually, the operator must prove that any breaches alleged against it by the owner to justify the termination are not proved; the entitlement to loss of profits must be proved as a question of law; the value ...

http://www.slideshare.net/secret/EOsZT3pqwSMUWI There is much flexibility in drafting terms of indemnity provisions and insurance clauses in contracts for the provision of goods and services. The circumstances unique to the transaction should be considered. For instance, general terms like “losses” and “damages” or “seller” and “buyer” should be defined as accurately as possible. It is important to include the provision that the contract’s indemnity and insurance coverage are the exclusive remedy available to the indemnitee for all claims that may arise. Failure to do so may enable an indemnitee to “sidestep” the contractual indemnity. Provisions should also address the mechanics of how indemnity and defense coverage is provided. 

Anti-corruption & Bribery in India J Sagar Associates Global, India October 11 2016 Trends and climate Trends Have there been any recent changes in the enforcement of anti-corruption regulations? In the wake of numerous scams being unearthed in India over the past decade, the enforcement agencies have become increasingly proactive in terms of monitoring compliance under relevant anti-corruption and bribery laws and taking action against violations thereof. For instance, in 2015 the Central Vigilance Commission (CVC) opened a suo moto (ie, of its own accord) inquiry against a private company (a subsidiary of a multinational corporation) for the first time, amid allegations that the company had bribed public servants in order to obtain certain clearances and permits in India. The CVC has also taken other proactive actions, such as advising all central government departments on quicker disposal of pending corruption cases and launching the ‘VIGEYE’ mobile...