Legal interest rates in 2015

The legal interest rate for late payment in commercial transactions and the legal interest rate
have been changed in 2015.

1. For the 1th half of 2015, the interest rate applicable for late payment in commercial transactions is:

7,5% for contracts concluded before 16 March 2013 (up to 16 March 2015);

8,5% for contracts concluded, renewed or extended on or after 16 March 2013;

8,5% as from 17 March 2015 for all contracts.

This specific interest rate is provided for transactions between companies or between companies and public authorities by the law of 2 August 2002 on combating late payment in commercial transactions, amended by the law of 22 November 2013, in order to implement European Directive 2011/7/EU.

Read more about it in an other article on our website: "The law on combating late payments in commercial transactions has been amended".

(1) Given the fact that the Act of 22 November 2013 is retroactive as from 16 March 2013, a new double interest rate had to be determined for 2013. A double interest rate has also to be determined for 2014 and the 1st half of 2015. As from the 2nd half of 2015, a single interest rate will be applied.

2. The legal interest rate for 2015 is 2,50%.

This has been stated in an information of the Administration of the Treasury.

This interest rate has thus decreased compared to 2014.

This interest rate is applicable in civil matters, but also in those commercial transactions (e.g. a transaction between a professional and a non-professional), that are outside the scope of the Act of 2 August 2002 (see above).

30 January 2015

Ann Vranken - ann.vranken@peeters-law.be

Read more about this topic:

The law on combating late payments in commercial transactions has been amended

Will the fight against late payments be more effective?

Legal interest rate for late payment in commercial transactions