A Law-Oriented Investigation on Late Payment Damage Condition for Bank Loans
ABSTRACT
A problem that banks are facing is that the debtors don’t make their payments on time. Bankers argue that this
problem inflicts damages on the bank not only because of currency devaluation, but also because of loss of profit.
Loss of profit means that if the money was at the bank’s disposal it could gain profits through utilizing it, but now
that the loaned money is not at its disposal, the bank has lost the opportunity of obtaining profits from the mon-
ey. In addition, they believe that if outstanding payments grow large would be harmful for the soundness of the
country’s monetary system. Based on banks’ requests, legal enactments have been passed to enforce penalties for
delayed payments. However, there are deep disagreements among jurists about legitimacy of these laws. This
article considers the problem of late payments in the banks by presenting a history of legislation about late pay-
ment penalties and discussing this problem from two points of view: law and jurisprudence; also, gives answers to
these questions:
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