Loi du 12 juillet 1980 portant approbation de la Convention européenne relative aux obligations en monnaie étrangère, en date à Paris, du 11 décembre 1967.
This preamble states that the law approves the European Convention on obligations in foreign currency.
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- Jurisdiction
- Luxembourg
- Instrument
- Act or statute
- Citation
- http://data.legilux.public.lu/eli/etat/leg/loi/1980/07/12/n1/jo
- Status
- In force
- Version
- Undated source snapshot
- Language
- fr
- Updated
- Official source
- View official record ↗
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Statute overview
About this statute
This preamble states that the law approves the European Convention on obligations in foreign currency. The provision approves the European Convention on obligations in foreign currency dated 11 December 1967. If a debt in foreign currency is not paid on time and the currency later depreciates, the debtor must pay an extra amount based on the exchange-rate difference. A similar rule applies after a judgment, with exceptions for creditor-caused delay, force majeure, or no loss to the creditor.
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Loi du 12 juillet 1980 portant approbation de la Convention européenne relative aux obligations en monnaie étrangère, en date à Paris, du 11 décembre 1967.
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