Compensation of Losses as a Universal Form of Responsibility of the Parties in the Contract of International Sale of Goods: Economic Analysis and Legal Regulation

The arsenal of remedies which the parties have according to provisions of Vienna Convention pursues an aim of reinstatement of a violate right, however damages itself, being a universal form of responsibility, most effectively fulfils a compensatory function by claiming amendments providing for an ideal with corrective justice defined by Aristotel. In spite of the achieved compromise in the international level referring to the implement of the given measure of responsibility by the parties of the contract of international sale and general confess of its universality nowadays at solving disputed situations it is worth to note absence of not only unified approaches concerning the questions of the mentioned above institute application, but also a lack of economic realizing at approving decisions by Courts and Arbitration. It is difficult to imagine a contemporary analysis of the Institute of civilians’ defense without positive (explaining the evolution of privately legal dogma) and normative economic analysis (forming the rules de lege ferenda). Discussions about taking for granted of compensation of different kinds of losses are not possible without analysis of the issue of the compensatory nature of responsibility as manifesting a common standard idea of punishment proportionality directed to reinstatement of balance of the interests of the parties. Meanwhile, damages has much significance in encourage of agreement fulfilment between professional participants of the market, promoting increasing of production efficiency, assisting of keeping to agreement discipline, saving of material resources, shortening of non-productive resources and searching of an optimal direction of keeping economic activity by participants of economic turnover. Taking into account the disputed issues, there will be made an attempt in the work to research the main problems connected with the responsibility in the form of damages, also will be defined possible ways of their solution.