Interest applicable to commercial contracts

2 November, 2018

Most commercial contracts provide for the consequences of late payment and will have an interest provision, but if certain types of business to business contracts are silent in respect of interest there is a statutory right to claim it at 8% above base rate.

 

This guidance note looks at the various types of interest and the ways it can be claimed in the context of commercial contracts. Read more here.

 

If you require further guidance please contact Gemma Pearmain at gemma.pearmain@crippspg.co.uk or on +44 (0)1892 506 229.