Financial compensation refers to the act of providing a person with money or other things of economic value in exchange for their goods, labor, or to provide for the costs of injuries that they have incurred. The aim of financial compensation is the preservation of relationships between those engaged in economic exchange.
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👉 Compensation payment in the context of War reparations
War reparations are compensation payments made after a war by one side to the other. They are intended to cover damage or injury inflicted during a war. War reparations can take the form of hard currency, precious metals, natural resources, industrial assets, or intellectual properties. Loss of territory in a peace settlement is usually considered to be distinct from war reparations.
War reparations are often governed by treaties which belligerent parties negotiate as part of a peace settlement. Payment of reparations often occur as part of a condition to remove occupying troops or under the threat of re-occupation. The legal basis for war reparations in modern international law is Article 3 of the Hague Convention of 1907.