Interest Rates for Late Payments in Commercial Transactions

For the second half of the year 2015, the interest rate for the late payment in commercial transactions is 8.5%.

For interest in the past there remains a distinction between contracts concluded before 16 March 2013 and contracts concluded, renewed or extended as of 16 March 2013. This distinction is derived from the amendment of the Act of 2 August 2002 which raised the reference interest rate. As of 17 March 2015, the interest rates for the contracts concluded before 16 March 2013 and the contracts concluded, renewed or extended as of 16 March 2013, are identical, due to termination of the transitional period (art. 14 (2)).

Overview of contracts concluded prior to 16 March 2013:

2015/2 : 8,5 % as of 17/03/2015 : 8,5% up to and including  16/03/2015 : 7,5 % 2014/2 : 7,5 % 2014/1 : 7,5 % 2013/2 : 7,5% 2012/1 - 2013/1: 8 % 2011/2 : 8,5 % 2009/2 - 2011/1 : 8 % 2009/1 : 9,5 % 2007/2 - 2008/2 : 11,5 % 2007/1 : 11 % 2006/2 :  10 % 2003/2 - 2006/1 : 9,5 % 2003/1 : 10 % 2002/2 : 10,5%

Overview of contracts concluded, renewed or extended as of 16 March 2013:

2015/2 : 8,5 % as of 17/03/2015 : 8,5% up to and including 16/03/2015 : 7,5 % 2014/2 : 8,5 % 2014/1 : 8,5 % 2013/2 : 8,5 % 2013/1 : 9 %

(Communication of the FPS Finance in implementation of art. 5 (2), Act of 2 August 2002 on combating late payment in commercial transactions, amended by the Act of 22 November 2013, Belgian Official Journal of 13 August 2015)

For more information on this particular topic, you can consult Siegfried Busscher and Pim van den Bos (authors).