Interest Rate: CAS 2019/A/6422 Cruzeiro EC vs. Ramón Darío Ábila & FIFA

Interest Rate: CAS 2019/A/6422 Cruzeiro EC vs. Ramón Darío Ábila & FIFA
The Swiss Code of Obligations states that, when the deadline for the performance of an obligation has been set by agreement, the obligor is automatically in default on expiry of the said deadline.

Facts and Procedure

 

On 1 July 2016, Cruzeiro and the Player entered into an employment contract, valid from 8 August 2016 to 30 June 2018. The contract was terminated on 18 July 2017 by mutual agreement of the parties. On 16 August 2017, Cruzeiro and the Player signed a document in which the former admitted a debt towards the latter. Through this document, Cruzeiro agreed to pay the Player its outstanding debts in five installments. However, only the first...

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