Summary

(Revised) The new Iranian Civil Procedure Code of 2000 on the face of it does not allow lost profit, while the Criminal Procedure Codes of 1999 and 2014 expressly allow it, as did the old Civil Procedure Code. Loss of profit is also expressly or impliedly accepted as remedy under the Civil Code, the Commercial Code, Civil Responsibility Act and other Iranian laws. Some Iranian domestic arbitral awards reject lost profits claims based on the recent Civil Procedure Code, while international arbitral awards, applying Iranian law have allowed such claims. The unavailability of lost ...