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The global energy and commodity sectors face unprecedented uncertainty. Increased global demand, coupled with supply chain constraints triggered by Russia's invasion of Ukraine, and...
1. China Contract Damages This must be China contract damages week. I say that because in cleaning up months of emails I came across three interesting emails on contract damages (similar to liquidated damages under common law). Before I discuss those three emails, I will explain what contract damages are and why they are so important in just about all China contracts. Contract damages refers to a contract provision setting out the damages for breach. The typical contract might have a provision saying if Party X breaches this contract, Party Y is entitled to $100,000 in contract damages. Som...