THE PECUNIARY SANCTION FOR NON-FULFILMENT OF AN ECONOMIC CONTRACTUAL OBLIGATION

Abstract

Decree Law number 304 of 2012, On Economic Contracting, gives the parties a greater role in the resolution of their contractual conflicts; regulates the financial penalty for late payment or total or partial non-compliance with a contract obligation, as a way of guaranteeing its compliance; economic legal institution that is an expression of the principle of the supremacy of the autonomy of the will, since it is the parties that determine it and decide its quantification. The referred legislation establishes the pecuniary sanction for default interest, as a form of contractual responsibility, however, it does not include the pecuniary sanction for non-compliance with obligations, so its legal location requires being studied for the pertinent modifying purposes. This legislative tribulation transcends to the practical order, where there are problems that prevent the required legal, coercive and compensation effects from taking place, since there is no agreement in the legal transaction, no use is made of the investigated institution during the execution of the contracts and no is requested in the lawsuits, despite its coercive purpose to increase the responsibility of economic entities.