Immigration law

Interest for delay in commercial transactions

As part of the fight against the so-called „Fight Against the Soccer”. The rules for charging interest in commercial transactions have changed since 1 January 2020. The payment of interest must now be considered not only by debtors who do not pay their debts on time, but also by those who set too long deadlines for payment.

1.statutory interest for delay in commercial transactions from the date on which the monetary claim matures

Statutory interest for late commercial transactions of 11,5% (excluding public entities which are therapeutic entities) shall be payable by the operator from the date on which the benefit is due until the date of payment, provided that the operator has fulfilled his benefit and has not received payment for it on time.

If the parties to a commercial transaction have set a payment deadline of more than 60 days in contravention of regulations (e. g. In a manner grossly unfair to the creditor or in the relationship between a large enterprise and an SME), statutory interest for delay in commercial transactions will be due to the creditor as from the 61st day from the date of delivery of the invoice or bill to the debtor, confirming the delivery of goods or the performance of a service.

On the other hand, if the parties to a commercial transaction have not indicated the date of payment at all, the creditor will be entitled to statutory interest for delay in commercial transactions from the 31st day counting from the date of performance until the date of payment or from the date of completion of the examination, if the parties to the contract have provided for the examination of the goods or services to confirm the conformity of the goods or services with the contract.

2.statutory interest until the date on which the monetary claim falls due

In order to motivate entrepreneurs to set short payment periods in commercial transactions, in the case of a payment period longer than 30 days, the creditor has the right to claim statutory interest of 5% even before the due date, even if the debtor pays on time.

Additional interest shall be calculated after 30 days from the date of fulfilment by the creditor and delivery to the debtor of an invoice or bill confirming the delivery of the goods or performance of the service until the date of payment agreed upon by the parties.

For example:

Entrepreneurs have concluded a contract for the sale of goods setting a 60-day payment period. On the same day the seller issued the goods together with an invoice confirming their purchase. The seller, in addition to paying for the goods, will be able to claim additional statutory interest of 5% for the period from 31 to 60 days, even if the buyer pays the invoice on time.

On the other hand, if the buyer is late with payment, the buyer will be able to claim statutory interest of 5% for the period from 31 to 60 days as well as statutory interest for late commercial transactions of 11. 5% from 61 days to the date of payment.

However, the statutory interest cannot be claimed from debtors who are public entities that are therapeutic entities.

3.statutory interest for late payment of lump-sum recovery costs

From the date on which entitlement is acquired to charge statutory interest for late payment in commercial transactions, the creditor is also entitled to claim compensation for recovery costs, without having to call upon the debtor to pay that amount – between EUR 40 and EUR 100 depending on the amount of the pecuniary benefit.

In case of delay in payment of this amount, the creditor is entitled to interest in the amount of statutory interest for the delay, i. e. 7%.

Since the compensation for recovery costs is not a commercial transaction, in the event of a delay in payment, the trader will not be entitled to interest at the rate of statutory interest for late payment in commercial transactions.

Author team leader DKP Legal anna szymielewicz
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