AWARD ON DISPUTE OVER LIQUIDATED DAMAGES FROM SUPPLY AGREEMENT OF MARINE LUBE OIL

[2022] 1 CMCLR 62 (CMAC)

CHINA MARITIME ARBITRATION COMMISSION(SHANGHAI)

Supply agreement of marine lube oil – Overdue payment – Whether it constituted breach of contract when changing other lube oil – “Overdue fine” as liquidated damages for delayed performance – Calculation of default time – Whether it could be tenable for anticipatory benefit – General Principles of the Civil Law of the People's Republic of China – Contract Law of the People's Republic of China