Damages as a form of responsibility of the contract parties for breach of contract

The reform of the Civil code of the Russian Federation has significantly changed the provisions governing the obligations also through review of the main approaches to the compensation of damages. In Russia the applicability of such a sanction as compensation for damages has been unreasonably narrowed for a long time. This paper analyzes the general approaches and principles of the updated legislation and judicial practice concerning the proof and compensation of damages in civil and arbitration proceedings.