The Position of Late Payment Damage in Commercial Bills

The prediction of late payment damage in cash obligations has faced two seemingly contradicting expediencies. On one hand, the doubt of its being usurious has made jurisprudents of the Guardian Council to frequent and serious reaction and on the other hand, its non-acceptance causes unfair damage to the warrantee and probably the abuse of the debtor. By enacting article 522 of Civil Procedure for General and Revolution Courts in 1379, the legislator tried to solve the problem of late payment damage in currency cash obligations. Despite the criticism of this act, it does not solve the problem in obligations rising from commercial bills (bill, promissory note, check) clearly. Moreover, reading the aforementioned article with other regulations prescribed for commercial bills on this subject has caused some obscurities.