Table of contents
- Background
- Why include an interest provision in a commercial contract?
- What is the position if the contract is silent on interest?
- Which party do you act for?
Article summary
Some contracts have them, some do not. Should your commercial contracts with other businesses include provisions imposing interest on late payment and what is the risk if they do not? The answers will depend on which party to the contract you are, read this alert to find out more.
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