Implementation of Directive no. 2000/35/CE
“Combating late payment in commercial transactions”
DEFAULT INTEREST RATE pursuant to legislative decree no. 231/2002
From | To | B.C.E. Rate | Surcharge | Total |
01/07/2002 | 31/12/2002 | 3,35% | 7,00% | 10,35% |
01/01/2003 | 30/06/2003 | 2,85% | 7,00% | 9,85% |
01/07/2003 | 31/12/2003 | 2,10% | 7,00% | 9,10% |
01/01/2004 | 30/06/2004 | 2,02% | 7,00% | 9,02% |
01/07/2004 | 31/12/2004 | 2,01% | 7,00% | 9,01% |
01/01/2005 | 30/06/2005 | 2,09% | 7,00% | 9,09% |
01/07/2005 | 31/12/2005 | 2,05% | 7,00% | 9,05% |
01/01/2006 | 30/06/2006 | 2,25% | 7,00% | 9,25% |
01/07/2006 | 31/12/2006 | 2,83% | 7,00% | 9,83% |
01/01/2007 | 30/06/2007 | 3,58% | 7,00% | 10,58% |
01/07/2007 | 31/12/2007 | 4,07% | 7,00% | 11,07% |
01/01/2008 | 30/06/2008 | 4,20% | 7,00% | 11,20% |
01/07/2008 | 31/12/2008 | 4,10% | 7,00% | 11,10% |
01/01/2009 | 30/06/2009 | 2,50% | 7,00% | 9,50% |
01/07/2009 | 31/12/2009 | 1,00% | 7,00% | 8,00% |
01/01/2010 | 30/06/2010 | 1,00% | 7,00% | 8,00% |
01/07/2010 | 31/12/2010 | 1,00% | 7,00% | 8,00% |
01/01/2011 | 30/06/2011 | 1,00% | 7,00% | 8,00% |
01/07/2011 | 31/12/2011 | 1,25% | 7,00% | 8,25% |
01/01/2012 | 30/06/2012 | 1,00% | 7,00% | 8,00% |
01/07/2012 | 31/12/2012 | 1,00% | 7,00% | 8,00% |
01/01/2013 | 30/06/2013 | 0,75% | 8,00% | 8,75% |
01/07/2013 | 31/12/2013 | 0,50% | 8,00% | 8,50% |
01/01/2014 | 30/06/2014 | 0,25% | 8,00% | 8,25% |
01/07/2014 | 31/12/2014 | 0,15% | 8,00% | 8,15% |
01/01/2015 | 30/06/2015 | 0,05% | 8,00% | 8,05% |
01/07/2015 | 31/12/2015 | 0,05% | 8,00% | 8,05% |
01/01/2016 | 30/06/2016 | 0,05% | 8,00% | 8,05% |
01/07/2016 | 31/12/2016 | 0,2% | 8,00% | 8,05% |
01/01/2017 | 30/06/2017 | 0,1% | 8,00% | 8,00% |
01/07/2017 | 31/12/2017 | 0,3% | 8,00% | 8,00% |
01/01/2018 | 30/06/2018 | 0,3% | 8,00% | 8,00% |
01/07/2018 | 31/12/2018 | 0% | 8,00% | 8,00% |
The interests for late payment in commercial transactions are due by the debtor for late payment of own debt (delay of debtor) according to a signed agreement with the suppliers of goods or services providers.
ECB surcharge:
The new regulations on interests for late payment introduced by legislative decree no. 192/12 including the increase of 8% compared to the EBC reference rate, are applicable to the concluded commercial transactions starting from 1st January 2013 as set out in article no. 3, paragraph no. 1 of the above-mentioned decree.
While for concluded commercial transactions within 31st December 2012 continues to apply the previous increase of 7%.
In order to manage this transition stage we have set a specific space in the application screen where you can indicate if the transaction was concluded within that date.
Food and agricultural products
The agreements connected with food and agricultural products are governed by article no. 62, legislative decree no.1 of 24th January 2012 converted after amendment into law no. 27 of 24th March 2012.
Regarding those agreements the paragraph no.3 states “the payment of the amount of perishable goods shall be made according to the legal deadline within 30 days while for all other goods within 60 days. In both cases the deadline starts from the last day of the month after receiving the relevant invoice. Interests automatically take effect from the day after that deadline. In those events the interests’ rate is increased by a further percentage points and is peremptory. The previous regulation abrogated by article no. 62, established such increase for perishable food products.
Legislative decree no. 192 of 9th November 2002 namely “Modifications to legislative decree no. 231 of 9th October 2002 for full transposition of Directive no. 2011/7/EU on combating late payments of commercial transactions, in compliance with article no. 10, paragraph no. 1, law no. 180 of 11th November 2011”.