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The statutory commercial interest is the interest you may charge in a commercial transaction between businesses (or with the government) if your invoice is paid late (Article 6:119a of the Dutch Civil Code). This interest is higher than the standard statutory interest and accrues automatically as soon as the payment term has expired.
What is the statutory commercial interest rate?
If a business customer fails to pay on time, you suffer damage: you lose liquidity, may have to take out credit, or miss out on investments. The statutory commercial interest (Article 6:119a of the Dutch Civil Code) compensates for this damage. It applies to commercial agreements between enterprises and with public authorities.
Higher than the standard statutory interest rate
There are two types of statutory interest: the ordinary statutory interest (Article 6:119 of the Dutch Civil Code), applicable to consumers, among others, and the higher statutory commercial interest for commercial transactions. Therefore, the commercial interest applies to unpaid business invoices and is more favorable to you as a creditor.
Interest accrues by operation of law
In principle, commercial interest starts accruing automatically as soon as the agreed or statutory payment term has expired; no formal notice is required for this. If no term has been agreed, a statutory term applies, after which the interest begins to accrue. Therefore, you do not need to first put the customer in default to assert your claim.
Combine with collection costs
In addition to commercial interest, you are entitled to reimbursement of collection costs. State the interest and costs in your demand letter and pass them on correctly. Good payment terms in your general terms and conditions strengthen your position.
Frequently Asked Questions
When does the statutory commercial interest rate apply?
In the event of late payment of invoices arising from commercial transactions between enterprises or with the government (Article 6:119a of the Dutch Civil Code).
Do I need to send a reminder first?
Not necessarily for commercial interest: in principle, it accrues automatically after the expiration of the payment term.
Is the commercial interest rate higher than the standard statutory interest rate?
Yes, the statutory commercial interest rate is higher than the standard statutory interest rate that applies to consumers, among others.
Collect unpaid invoices?
Our legal experts draft a demand letter with the correct interest and costs and handle your debt collection. Establish payment terms in your general terms and conditions or schedule a free consultation.
