1 Is "statutory interest" provided for in the Member State? If so, how is "statutory interest" defined in this Member State?
The Netherlands does have statutory interest. This is the interest which a creditor can legally demand in the event of a late payment.
A distinction is drawn between statutory interest for non-commercial transactions (Article 6:119 of the Civil Code) and statutory interest for commercial transactions (Article 6:119a of the Civil Code).
Statutory interest for non-commercial transactions applies to all agreements with private individuals or consumers.
Statutory interest for commercial transactions applies to all agreements with businesses and government organisations.
2 If yes, what is the amount/rate and legal basis for it? If different rates of statutory interest are provided for, what circumstances and conditions apply?
Statutory interest for non-commercial transactions is 2 %. Statutory interest for commercial transactions is 8 %.
Statutory interest can fluctuate.
3 If necessary, is there further information available on how to calculate statutory interest?
4 Is there free online access available to the legal basis mentioned above?
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