According to the provisions of laws and regulations, the amount of liquidated damages in a loan contract shall be based on the principle of compensation for losses, and shall not exceed a certain proportion of the loan principal and 30% of the loan interest.
The amount of liquidated damages under a legal loan contract shall meet the following requirements:
1. The amount of liquidated damages shall be clearly stipulated in the contract and shall not exceed a certain proportion of the loan principal, usually between 5% and 10%.
2. The amount of liquidated damages shall be equivalent to the actual loss and shall not exceed the scope of the actual loss.
3. The amount of liquidated damages shall conform to the principle of fairness, and shall not be too high or too low, nor shall it violate the provisions of relevant laws and regulations.
If the penalty clause in the loan contract is illegal, the injured party can safeguard its legitimate rights and interests through the following ways:
1, settled through negotiation. If there is any dispute between the two parties, it can be settled through consultation, including adjusting the amount of liquidated damages and negotiating compensation. Both parties can reach an agreement through written agreement or oral agreement to achieve the purpose of mediation.
2. sue the court. If negotiation fails, the injured party may bring a lawsuit to the people's court, asking the court to rule that the penalty clause is invalid, and asking the borrower for compensation. It should be noted that before filing a lawsuit, relevant evidence should be collected and complete evidence materials should be submitted to the court.
3. Seek professional help. If you can't solve the problem yourself, you can seek help from professional organizations, such as law firms and consumer associations. These institutions can provide legal advice, litigation and other services to help the injured party safeguard their legitimate rights and interests.
To sum up, the amount of liquidated damages in the loan contract should be negotiated and agreed according to the specific circumstances, and at the same time, it should abide by the provisions of relevant laws and regulations, and must not violate the legal provisions or infringe upon the legitimate rights and interests of others. If the amount of liquidated damages is too high, it may be considered as a violation of public order and good customs, and will be deemed invalid by the court.
Legal basis:
Article 585 of the Civil Code of People's Republic of China (PRC)
(1) The parties may stipulate that one party shall pay a certain amount of liquidated damages to the other party in case of breach of contract, and may also stipulate the calculation method of damages arising from breach of contract.
(2) If the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase them at the request of the parties; If the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties.
(3) If the parties have liquidated damages for the delayed performance, the breaching party shall also perform the debt after paying the liquidated damages.