Contract Laws of Asia – Liquidated Damages and Penalty Clauses

Asian Business Law Institute and Singapore Academy of Law

January 2023

The Contract Laws of Asia – Liquidated Damages and Penalty Clauses focuses on:

  • Practical operation of liquidated damages clauses in contracts in select common law jurisdictions, including restrictions placed on such clauses, defenses to claims under such clauses, treatment of claims under such clauses in the event of insolvency of the obligor, etc.
  • Whether the common law concept of liquidated damages exists in select civil law and hybrid jurisdictions, and if this concept does not exist, where are the analogous remedies available in those jurisdictions, and how those remedies differ from liquidated damages in the common law context

Jurisdictions and governing laws covered by the publication are: 

Civil law and hybrid jurisdictions: China, Indonesia, Japan, the Philippines, Thailand and Vietnam
Common law: Australia, England and Wales, India, Malaysia, New York law, Singapore

This is a fully-cited, 148-page publication where contents are internally hyperlinked to offer readers an easier navigation experience. Where relevant, external links are also included for statutes and cases.

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Australia (pp 12 – 18)

Jonathan Slater, Ananya Roy and Christian McDowell of Clayton Utz

China (pp 19 – 30)

Deng Yongquan of Anli Partners and Dr Du Guodong of Hylands Law Firm

England and Wales (pp 31 – 39)

Rhys Thomas, David Harding of Jones Day and Stanzi Rosenthal (until December 2022 of Jones Day)

India (pp 40 – 54)

Vivek Kathpalia, Dipti Bedi, Pragati Sharma and Abhilasha Malpani of Cyril Amarchand Mangaldas

Indonesia (pp 55 – 65)

Fransiscus Rodyanto and Fadhira Mediana of SSEK Legal Consultants

Japan (pp 66 – 75)

Sook Zhen Ng of Dentons Rodyk and Yasuhiko Tanabe of Tanabe & Partners

Malaysia (pp 76 – 85)

Lee Lily of Zaid Ibrahim & Co (in association with KPMG Law) and Yim Siew Lim

New York law (pp 86 – 95)

Dan Moss, Lee Wilson and Roger Lu of Jones Day

Philippines (pp 96 – 111)

JJ Disini of Disini Buted Disini Law Offices

Singapore (pp 112 – 119)

Sim Chee Siong, Soh Lip San and Matthew Koh of Rajah & Tann Asia

Thailand (pp 120 – 135)

Ittichai Prasongprasit and Thamolwan Cheewakriengkrai of R&T Asia (Thailand) Limited

Vietnam (pp 136 – 147)

Duc Dang, Steven Jacob and Loc Ngo Dang of Indochine Counsel

Table of contents