Interlegal claims handling: 175,000 EUR
23 April, 2021
8
Interlegal claims handling: 175,000 EUR
The Client (foreign trader) applied to Interlegal for solving the problem arising from improper performance of the Sunflower Oil Supply Contract.
The Seller failed to fulfill its contractual obligations in full, which resulted in late delivery of several batches.
First, the Client tried to settle the dispute by its own force, in the form of supplementary agreements; however, neither delivery was renewed nor prepayment was returned.
Since the Seller violated terms of the Contract and supplementary agreements, delayed supply of the goods and returned prepayment, Interlegal lawyer commenced claims handling. Having received the claim, the Debtor initiated negotiations aimed to settle all the claims, disputes and demands based on the Contract.
Having analyzed the conflict, with regards to financial, economic and other interests of both Parties, Interlegal lawyer facilitated bilateral dialogue, negotiations and terms for dispute settlement.
After the Parties reached a compromise, Interlegal lawyer drafted amicable agreement providing for new payment schedule, additional penal sanctions as the guarantee for fulfillment of obligations, jointly with other terms and conditions.
Next business day after signing the Agreement, first funds were enrolled to the Client’s bank account.
Interlegal prompt actions facilitated dispute settlement between the Parties, in avoidance of arbitration costs and with good business relations preserved.
Interlegal lawyer Nikita Kocherba led the case.
