A Review of the Civil Liability of Banks for Breaching or Failing To Fulfill the Contractual Obligations of Bank Finance

One of the most obvious intersections between economics and law is financial and banking issues, one of which is concerned with monetary obligations and the breaching of these obligations. The contractual obligation of bank financing includes provisions that clearly define and establish the rights, liabilities and the obligations of both sides. Due to their top legal significance, these contracts are usually written by legal advisors and experts. These contracts include definitions, the loan amount, the manner in which the loan should be spent, the repayment deadline, the manner of settlement of possible disputes, the governing laws, and the dispute resolution offices. In terms of contractual liability, in case of violation of the contract, the sides are obligated to compensate. Finance is a type of foreign loan and must be paid to the provider along with its interests in a given time. The most important feature of finance is the non-involvement of the investor country in the benefits and losses of the projects to which the loan money goes. The purpose of the present study was to review the civil liability of banks for breaching or failing to fulfill the contractual obligations of bank finance.

Keywords: Civil Liability, Obligations, Contract, Bank, Finance.