viivästymiskorvaus

Viivästymiskorvaus is a Finnish legal concept that refers to compensation for delays in the delivery of goods, services, or performance of contractual obligations. The term is primarily used in commercial contracts, construction agreements, supply contracts, and other agreements that include performance deadlines. It is intended to protect the non‑delayed party from loss or expense caused by a delay beyond the agreed time.

The right to viivästymiskorvaus typically arises when the contract explicitly provides for it, or when the Finnish Civil Code’s provisions on penalty clauses and damages are invoked. Article 5 of the Finnish Contracts Act allows parties to agree on a monetary penalty for delay; however, the penalty must be proportional to the expected loss. If the penalty is deemed excessive, it will be reduced by the court. In addition, customary damage compensation for actual loss is available under Article 147 of the Civil Code, independent of any penalty clause.

In practice, viivästymiskorvaus clauses are drafted to specify the amount of compensation, whether it is calculated on a daily rate or as a fixed sum, and any caps or limits. The clause must be clear and unambiguous, otherwise it can be deemed invalid. Enforcement is typically pursued in civil court, and the party causing the delay bears the burden of proof that the delay is not due to an excusable circumstance such as force majeure.

Courts in Finland have held that viivästymiskorvaus should not serve as a punitive measure but as a means of restoring the damaged party to the position it would have been in had the performance occurred on time. The principles are similar in other Nordic jurisdictions, although the specific statutory references differ.