Remedies

Remedies in foreign trade law and practice refer to the legal or contractual relief measures available to the aggrieved party when the other party breaches the contract or force majeure occurs, including specific performance, damages, termination of contract, suspension of performance, price reduction, repair or replacement, etc. They are commonly used in international sales contracts, letter of credit disputes, and transport and insurance claims. Key points: first, distinguish between legal remedies and contractual remedies, with contractual ones taking precedence; second, the choice of remedies is governed by the CISG and domestic law, e.g., Articles 45-52 and 61-65 of the CISG; third, before taking remedies, preserve evidence and notify the other party promptly to avoid losing part of the claim due to failure to mitigate losses. Difference from other terms: Remedies focus on the legal right to relief after breach, while 'Claim' focuses on the act of demanding compensation, and 'Relief' is broader, including interim measures in litigation or arbitration. Foreign trade practitioners should specify remedy clauses in contracts, such as liquidated damages, termination conditions, and dispute resolution methods, to enhance enforceability.