UKDC COUNTERPARTY RISK — CLAIMS FOR DAMAGES

This official UKDC publication was released to cover such critically important aspects of the counterparty risk as causation, development of the law, remoteness, mitigation, accepting repudiator breaches, assessment of damages, date that damages are assessed, wasted expenditure as basis for damages, "cost of cure" basis of assessment.

It is important to define if the certain loss types would be recoverable in any case. And the main problem associated with this is to show that they were actually not too remote. After that, the claimant proceeds with the assessment of the damages incurred. In most cases courts look to the assessment in monetary loss terms...