Common use of Interest for Delay Clause in Contracts

Interest for Delay. If the Subscriber does not pay the Service Fee or any other payment (excluding interest for delay) under the Agreement by the due date of payment, the Subscriber shall, with respect to the period commencing from the day immediately after the due date of payment to the day before the day when the payment is made, pay the amount of money obtained by multiplying the such unpaid amount by 14.6% per annum (prorated on the basis of a 365-day year). However, if the Subscriber is a consumer (i.e. a natural person acting for purposes outside of his/her trade or profession), the interest for delayed payment will be calculated in accordance with the applicable and mandatory legislation on interest rates.

Interest for Delay. If the Subscriber does not pay the Service Fee Fees or any other payment (excluding interest for delay) under the Agreement by the due date of payment, the Subscriber shall, with respect to the period commencing from the day immediately after the due date of payment to the day before the day when the payment is made, pay the amount of money obtained by multiplying the such unpaid amount by 14.6% per annum (prorated on the basis of a 365-day year). However, if the Subscriber is a consumer (i.e. a natural person acting for purposes outside of his/her trade or profession), the interest for delayed payment will be calculated in accordance with the applicable and mandatory legislation on interest rates.