Viivästymissakot

Viivästymissakot are monetary penalties imposed in Finland when a party fails to fulfill a contractual obligation by the agreed-upon deadline. These penalties serve as a form of compensation for the damages incurred by the other party due to the delay. The specific terms and conditions of viivästymissakot, including the amount or calculation method, are typically stipulated in the contract itself.

In consumer contracts, there are legal limitations on the amount of viivästymissakot that can be charged. For instance, the Finnish Consumer Protection Act restricts the penalty to a reasonable level, preventing excessive charges. If a contract does not explicitly define a penalty for delay, the aggrieved party may still be entitled to claim damages for the actual loss suffered, though this often requires proof of the extent of the damage.

Viivästymissakot are distinct from other types of penalties or contract breaches. They specifically address the consequence of a delay in performance, rather than a complete failure to perform or a defect in performance. The purpose is to incentivize timely completion and provide a pre-agreed remedy for the inconvenience and potential financial repercussions of a delayed delivery or service. Both businesses and individuals can encounter viivästymissakot in various contractual agreements, from construction projects to service provisions.