Send an invoice to your customer including Interest and compensation fees.Ĭontact a national body that may be able to help you recover your debt. You charge interest on the gross amount of the debt (including VAT), but you do not administrative costs, debt collection fees or costs to instruct a lawyer). If the costs you have incurred in recovering your debt exceed this value, additional reasonable compensation can be claimed (i.e. In addition to the interest due, you are entitled to claim a flat rate compensation fee of EUR 40 (or equivalent)įor each invoice paid late (in certain EU countries the amount may be higher, calculated Use our calculator to find out how much interest you're entitled to claim. Rate was agreed, the statutory rate applies. You can charge the interest rate for late payment as agreed in the contract. The countdown starts only after delivery. If you send the invoice to your client before you deliver your service and/or product, If you don't know when the invoice was received, you can claim interest 30 calendar days after you delivered your service and/or If you haven't fixed a payment period in the contract, interest becomes automatically payable 30 calendar days after theĬlient receives your invoice or payment request. The interest is due from the day following the due date fixed in the contract. If you have fulfilled your contractual and legal obligations and the client is responsibleįor the delay (that is, it is not due to circumstances beyond their control) you areĮntitled to claim interest for late payment and compensation for recovery costs.
My business is based in an EU country (In this case, the 27 EU member states) and I am owed money from a business operating in the same country as me. If you haveĪn issue with a consumer the above rules do not apply. You can't claim late payment interest in transactions with consumers. Operating in a different EU country than me. My business is based in an EU country and I am owed money from a public authority My business is based in an EU country and I am owed money from a business operating in a different EU country than me. My business is based in an EU country and I am owed money from a business operating in the same country as me Go directly to the interest calculatorto see how much you are owed or choose your situation below. To compensation payments for damages (for example by insurance companies) In the case of insolvency proceedings (including proceedings aimed at debt restructuring) These rules and those in the following steps do not apply: Accounting for SMEs and micro-businesses.Classification, labelling and packaging of chemicals.Technical documentation and EU declaration of conformity.Employing road transport workers: driving time and rest periods.Package travel and linked travel arrangements.E-commerce, distance and off-premises selling.Request a review of a public procurement procedure.Taxes on parent companies and subsidiaries.Infringement of intellectual property rights.Licensing and selling intellectual property.Deliveries and fulfilment for online sales.Selling online using third-party platforms.
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