Interest Policy Clause Samples

Interest Policy a) Where we hold money in a client account for you, the SRA Accounts Rules require us to account to you for interest where it is fair and reasonable to do so in all the circumstances. b) Our interest policy shall be kept under review and may change if the Bank of England base rate increases or decreases. Interest rates payable on client accounts are currently around 0.1% and the Bank of England base rate is 0.75%. Therefore, the rate of interest available on client accounts is lower than rates of interest which can be obtained on other bank or building society accounts. c) For cleared funds paid into a client account, the firm shall account for interest unless one of the following circumstances apply: i) The amount of interest calculated on the balance held is £20.00 or less; or ii) The client money was held in cleared funds in client account for a period of five working days or less. d) We will usually account to you for interest under our interest policy at the conclusion of your matter.

Interest Policy a) Where we hold money in a client account for you, the SRA Accounts Rules require us to account to you for interest where it is fair and reasonable to do so in all the circumstances. This is typically where we are holding a substantial amount of money for a significant period of time. b) Our interest policy shall be kept under review and may change if the Bank of England base rate increases or decreases. Interest rates payable on client accounts will accrue at the rate payable by our bank on instant access deposits. Therefore, the rate of interest available on client accounts is lower than rates of interest which can be obtained on other bank or building society accounts. c) For cleared funds paid into a client account, the firm shall account for interest unless one of the following circumstances apply: i) The amount of interest calculated on the balance held is £20.00 or less; or ii) The client money was held in cleared funds in client account for a period of five working days or less. d) We will usually account to you for interest if applicable at the conclusion of your matter. e) If we hold sums of money for you in relation to different matters, we will normally treat the money separately f) We will not account for interest on money held for the payment of a professional disbursement, if the intended recipient has requested a delay in settlement. Nor will we account for interest held for the Legal Aid Agency.

Interest Policy. The public has a right to expect high standards of integrity and conduct from those in its service. Any conduct or activity which is or gives the appearance of being motivated by a desire for private gain, either for the employee or those with whom the employee has family or business ties, or who engages directly or indirectly in any financial transaction as a result of primarily relying on, or in the relaying of, information not available to the general public, is prohibited. An employee who is an officer, director, agent, or member of or owns a controlling interest in any corporation, firm, partnership, or other business entity which has business dealing with the PHA shall file a sworn statement disclosing such interest and shall refrain from participation in selection or supervision of any such business dealings.

Interest Policy a) Where we hold money in a client account for you, the SRA Accounts Rules require us to account to you for interest where it is fair and reasonable to do so in all the circumstances. This is typically where we are holding a substantial amount of money for a significant period of time. b) Our interest policy shall be kept under review and may change if the Bank of England base rate increases or decreases. Interest rates payable on client accounts are currently around 1.45% and the Bank of England base rate is 5.25%. Therefore, the rate of interest available on client accounts is lower than rates of interest which can be obtained on other bank or building society accounts. c) For cleared funds paid into a client account, the firm may account for interest unless one of the following circumstances apply: i) The amount of interest calculated on the balance held is £50 or less; or ii) The client money was held in cleared funds in client account for a period of five working days or less. d) We will usually account to you for interest under our interest policy at the conclusion of your matter.

Interest Policy a) Where we hold money on your behalf, it will be held in a client account that is subject to instant access and, as such, the interest earned on any monies held is unlikely to be as much as if the money had been otherwise invested. b) Under our interest policy, we will pay you interest (unless the amount calculated is £20 or less) on client money at the rate of 2% below the base lending rate for the time being of NatWest Bank or 0.01% whichever is the greater. If we hold money for you outside our client account (as may be permitted by our professional rules) you will be entitled to interest on such money at the same rate. c) Our interest policy shall be kept under review and may change if the bank of England base rate increases or decreases. d) We will usually account to you for interest under the terms of this interest policy. e) If for religious or other reasons you do not wish to receive interest payments on any money we hold on your behalf, please let us know.

Interest Policy a) The SRA Accounts Rules require us to account to you for interest where it is fair and reasonable to do so in all the circumstances. b) Our interest policy shall be kept under review and may change if the Bank of England base rate increases or decreases. Interest rates payable on client accounts are currently around 0.1% and the Bank of England base rate is higher. Therefore, the rate of interest available on client accounts is lower than rates of interest which can be obtained on other bank or building society accounts. c) For cleared funds paid into a client account, the firm shall account for interest unless one of the following circumstances apply: i) The amount of interest calculated on the balance held is £20.00 or less; or ii) The client money was held in cleared funds in client account for a period of five working days or less. d) We will usually account to you for interest under our interest policy at the conclusion of your matter.