morarente: what does it mean in Danish debt collection?
morarente in English: late-payment interest
info General information, not legal advice. Always check the current rules and get advice on your specific case. Disclaimer
Short answer
Interest for late payment: the reference rate plus 8 percentage points a year (section 5 of the Interest Act).
Explanation
The rate is the same for consumers and businesses and changes on 1 January and 1 July, when the reference rate is set. Interest runs from the due date if agreed in advance, otherwise from 30 days after the request for payment (section 3). With consumers, the rules cannot be set aside to the consumer's detriment. Check the current rate before you calculate.
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Tool: Late-payment interest, fees and collection costs calculator
Related terms
- fordring, krav claim
- hovedstol principal
- kompensationsbeløb fixed compensation
- referencesats reference rate
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