Glossary entry (derived from question below)
Dutch term or phrase:
verwijlrente
English translation:
late payment interest
Added to glossary by
katieker
Jun 3, 2003 00:09
21 yrs ago
1 viewer *
Dutch term
verwijlrente
Dutch to English
Bus/Financial
bij niet-betaling is vanaf de vervaldag, van rechtswege en zonder aanmaning, verwijlrente veschuldigd ten belope van 1% per maand, berekend op het bedrag aan achterstallige vergoedingen en BTW
(Belgian document - general terms and conditions of sale.)
(Belgian document - general terms and conditions of sale.)
Proposed translations
(English)
| 5 +5 | late payment interest |
LouisV (X)
|
| 3 +5 | penalty interest |
writeaway
|
| 4 | statutory interest, interest for late payment |
Chris Hopley
|
Proposed translations
+5
7 mins
Selected
late payment interest
or interest charged on overdue charges
4 KudoZ points awarded for this answer.
Comment: "Thanks! This seemed like the best answer."
+5
5 hrs
penalty interest
penalty interest (for late payment). way I usually translate it.
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Note added at 2003-06-03 06:02:20 (GMT)
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... Penalty Interest Rate. Date Posted to Website: 04 May 2002. ... View a full listing of the Penalty Interest Rates. © Copyright Law Institute of Victoria 1998 - 2003. ...
www.liv.asn.au/news/practicenotes/ 20020504_pirmay2002.html
.. government\'s voluminous advice pamphlet from www.payontime.co.uk or order it on paper from 08 701 502 500. In other EU countries the penalty interest rate is ...
media.gn.apc.org/fl/0207late.html - 10k
. Choosing between UK mortgage companies. ... element of competition is the interest rate charged. ... Sometimes lenders require penalty interest payments for paying off ...
ukcreditcardapplication.co.uk/UK_Mortgages/ UK_Mortgages_7.shtml - 13k -
--------------------------------------------------
Note added at 2003-06-03 06:02:20 (GMT)
--------------------------------------------------
... Penalty Interest Rate. Date Posted to Website: 04 May 2002. ... View a full listing of the Penalty Interest Rates. © Copyright Law Institute of Victoria 1998 - 2003. ...
www.liv.asn.au/news/practicenotes/ 20020504_pirmay2002.html
.. government\'s voluminous advice pamphlet from www.payontime.co.uk or order it on paper from 08 701 502 500. In other EU countries the penalty interest rate is ...
media.gn.apc.org/fl/0207late.html - 10k
. Choosing between UK mortgage companies. ... element of competition is the interest rate charged. ... Sometimes lenders require penalty interest payments for paying off ...
ukcreditcardapplication.co.uk/UK_Mortgages/ UK_Mortgages_7.shtml - 13k -
Peer comment(s):
| agree |
joeky janusch
36 mins
|
| agree |
Kate Hudson (X)
1 hr
|
| agree |
J. Leo (X)
2 hrs
|
| agree |
Meturgan
5 hrs
|
| agree |
Chris Hopley
7 hrs
|
13 hrs
Chris Hopley
Netherlands
Netherlands
Native in English
Netherlands
Dutch & German to English
Native in: English (Variants: British, UK, Irish, US, Australian, Canadian, New Zealand)
Works in: German to English, Dutch to English, Flemish to English, and 1 more.
Related KudoZ points
:
2117
statutory interest, interest for late payment
Without wanting to detract from the first two excellent answers, it is also sometimes referred to as 'statutory interest' (cf. 'wettelijke rente' in the Netherlands).
E.g.:
-> "From 1 November 1998 small businesses can claim statutory interest for late payment from large businesses and most of the public sector. From 1 November 2000 in addition to the above, small businesses can charge other small businesses statutory interest for late payment."
http://www.payontime.co.uk/legislation/legislation_main.html
In the UK, this type of late payment interest is more fully known as 'interest on the late payment of commercial debts' following the introduction of the Late Payment of Commercial Debts (Interest) Act (see Meturgan's link, for example).
The EU Directive which obligated EU countries to implement legislation regarding late payment interest refers to it as 'interest for late payment' and the interest rate is referred to as 'the statutory rate'. E.g.:
-> "3.1(d) the level of interest for late payment ("the statutory rate"), which the debtor is obliged to pay, shall be the sum of the interest rate applied by the European Central Bank to its most recent main refinancing operation carried out before the first calendar day of the half-year in question ("the reference rate"), plus at least seven percentage points ("the margin"), unless otherwise specified in the contract. ..."
Directive 2000/35/EC of the European Parliament and of the Council of 29 June 2000 on combating late payment in commercial transactions
Official Journal L 200 , 08/08/2000 P. 0035 - 0038
E.g.:
-> "From 1 November 1998 small businesses can claim statutory interest for late payment from large businesses and most of the public sector. From 1 November 2000 in addition to the above, small businesses can charge other small businesses statutory interest for late payment."
http://www.payontime.co.uk/legislation/legislation_main.html
In the UK, this type of late payment interest is more fully known as 'interest on the late payment of commercial debts' following the introduction of the Late Payment of Commercial Debts (Interest) Act (see Meturgan's link, for example).
The EU Directive which obligated EU countries to implement legislation regarding late payment interest refers to it as 'interest for late payment' and the interest rate is referred to as 'the statutory rate'. E.g.:
-> "3.1(d) the level of interest for late payment ("the statutory rate"), which the debtor is obliged to pay, shall be the sum of the interest rate applied by the European Central Bank to its most recent main refinancing operation carried out before the first calendar day of the half-year in question ("the reference rate"), plus at least seven percentage points ("the margin"), unless otherwise specified in the contract. ..."
Directive 2000/35/EC of the European Parliament and of the Council of 29 June 2000 on combating late payment in commercial transactions
Official Journal L 200 , 08/08/2000 P. 0035 - 0038
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