约定违约金 meaning in English

liquidated damages by agreement

But in certain condition the agreed damages for breach of the contract should be legally interfered with
但并不排除在某些情况下对约定违约金实行适当的法律干预。
The judicial interference refers to the interpretation of contract or the modification of the amount of the damages for breach of the contract
对约定违约金的司法干预是指合同的解释或违约金金额的变更。
Where the parties prescribed liquidated damages for delayed performance , the breaching party shall , in addition to payment of the liquidated damages , render performance
当事人就迟延履行约定违约金的，违约方支付违约金后，还应当履行债务。
The legal interference with the agreed damages for breach of the contract should defer to the purpose of the parties . the court or the arbitration organization should only have limited power
对约定违约金的干预，应当充分尊重当事人的意志，人民法院或仲裁机构在行使裁量权时应当有所节制。
If the parties prescribed payment of both liquidated damages and a deposit , in case of breach by a party , the other party may elect in alternative to apply the liquidated damages clause or the deposit clause
第一百一十六条当事人既约定违约金，又约定定金的，一方违约时，对方可以选择适用违约金或者定金条款。

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