In the article, we consider penalties for late payment under the contract. Because almost every citizen at least once faced with the need to make not only the main payment for something. But also overdue interest, that is, interest. This problem can be encountered in the provision of services. Delay in meeting obligations, as a rule, bears inevitable expenses. More on this later.
Penalty for late payments under the contract
The first step is to decipher all the terms. Penalties mean the amount of money that must be paid in compensation for the actual violation of the terms of the existing agreement. Such a penalty is usually recoverable from the violator of the requirements of a particular contract, which is done in favor of the other party to the transaction.
In that case, if we turn to the legislation, for example, to the Civil Code, it becomes clear that the charging of fines is provided for by legal acts as compensation for untimely fulfillment of obligations. Its size may be determined by a contract or some other agreement between persons. There are numerous examples where the size of the penalty is established by law.
Often a penalty involves an installment contract.
A written form is considered mandatory as part of determining the size and occurrence of offenses. This information is supplemented by the Tax Code by the fact that this type of fines also applies to late payment of taxes and, accordingly, collection, and each new day of delay entails certain expenses. Next, we consider the most common situations for charging penalties.
But first, find out what is the penalty for late payment under the contract? About this in the next paragraph.
Default interest
One type of contractual relationship is the supply of goods. It can be carried out for an individual or for a legal entity. But in any situation, all the nuances should be negotiated. For an example of calculation, it is worth taking furniture delivery:
- Individual. If a person made a purchase with delivery to his home, then for sure he has on hand the contracts for the sale and delivery of goods (that is, the provision of services on a fee). They prescribe the terms of manufacture, and, in addition, the assembly and assembly, as well as the delivery of furniture. In addition, the calculation conditions are reflected, for example, the presence of an advance payment or the simultaneous payment of the entire amount. A person must be notified of the readiness of the order and the date of its transfer to the carrier. There are many communication methods today: phone calls, mail notifications, information on the seller’s website and more. The delay may occur due to the fault of the seller or carrier. But this does not change the essence. All parties are responsible for all their obligations. Penalty on late delivery contracts is a frequent occurrence.
- Entity. Goods can be ordered for sale or solely for personal purposes, for example, for the office environment. In the first case, the agreement will be long-term, and in the second it will be one-time. All basic information about fines and deadlines is reflected in paper.
The late payment interest under the contract will be three percent daily. In the event that there are separate documents for delivery or for purchase, then such options for obtaining penalties are quite possible:
- According to the document of sale in the amount of 0.5%
- Delivery agreement at 3% daily.
Responsibility for late payment of work
Any work, regardless of its nature, is also considered a service in our legislation. In this regard, the size of the penalty is three percent. They are charged for each day of delay.
Liability for delay in payment of a loan
Credit relations in our country are regulated simultaneously by many different laws and sometimes they are quite contradictory. The Civil Code, the Law on Banks and Tax Acts establish the existence of financial penalties due to untimely depositing money into credit accounts. The amount of late fees in the payment document under the loan agreement does not have fixed rates. They can be expressed as a percentage of the amount of the base debt or monthly payment.
In the event that interest is accrued, and the interest is too high, and the person detects this after registration, then you can change them only through the court. Guided by Article No. 16 of the Law on the Protection of Consumer Rights. An agreement may become jurisdictional, in which the penalty depends directly on the bank's tariff. These can be changed unilaterally, and no one is obliged to notify anyone of this.
Responsibility for the delivery of the apartment to equity participants
Any deadlines are determined by agreement. In fact, this moment is the signing of the act of acceptance and transfer of living space. Any hitches for developers entail a daily penalty for delay in the amount of 1/300 of the current refinancing rate relative to the value of the property in favor of the legal entity, or 1/150 for the physical.
When accrual does not occur?
In the event that delay in the performance of something may entail a penalty for late payment by agreement, and the guilty party bears no responsibility for it (that is, it is not due to its oversight that the delay occurs, but, for example, weather conditions interfere), then no monetary penalty is charged. Also, this penalty does not apply to arrears arising from a tax arrest or suspension of operation of an account by a court decision.
What is the interest rate for late payment under a lease?
Rent
The rental terms for residential premises are always specified in the agreement. Competent drafting of a document is the key to transactions that are beneficial for all parties. There are often situations when the owners of an apartment or house do not have time for one reason or another to prepare housing for delivery by the agreed deadlines. This can lead to a number of troubles for the tenant, which will be associated with the fact that he simply has nowhere to live.
In this regard, a penalty for late obligations related to the provision of housing in a form that is suitable for immediate use for its intended purpose is often allocated as a separate item and it is negotiated in advance. As a rule, the amount of monthly payments for the use of the premises is reduced by its size.
The size of the monetary punishment according to the legislation on consumer protection is equal to three percent of the monthly fee. It is also not prohibited if this figure is higher, the main thing is that it is reflected in the agreement. For delay in making the next payment by the guests, a penalty is also calculated, the amount of which is also always prescribed. It may also include delays associated with the payment of a communal apartment.
Another very important nuance is that the landlord agrees to pay a thirteen-percent income tax, which is obtained when renting a home. Therefore, for ignoring or late payment, a penalty is also charged. Its size is regulated by the Tax Code of the Russian Federation and it, as a rule, amounts to 1/300 of the current refinancing rates, which are charged daily.
What is the responsibility for late payments?
How can I recover a forfeit?
There are two ways to receive compensation for late work or a service provided:
- The pre-trial type consists, as a rule, in writing a claim against the guilty party in which the penalty is calculated, and the terms for its payment are given.
- The judicial option makes sense when it is not possible to agree on peace. The statement of claim describes in detail the problem, and provides a reference to a violation of the law.
The penalty for only one day of delay in fulfillment of obligations under the agreement always seems small, but if you do not pay attention to it, the amount may eventually turn out to be impressive. Therefore, in the framework of a meeting with the unscrupulous provision of any services or against the background of an open violation of legal rights, one should not forget about its existence. And, when a citizen himself is forced to pay, then he should once again familiarize himself with the documents on the basis of which he will be required to pay and he must turn to the law. Unreasonably high fines and penalties are reduced solely in the courts.
Work agreement
Contractors of construction or repair work are obliged to deliver orders within the time limits established by the agreement or additional contract. Violation of this clause of a transaction always entails certain consequences for contractors.
In the event that the customer is a citizen, then the non-observance of the deadline for the completion of construction and the correction of defects is regulated by the Law on Consumer Protection. According to article No. 28, the size of the daily penalty will be equal to three percent of the cost of an individual stage of work or the entire order. When the contract for the provision of the service contains other penalties, then the calculation of the monetary compensation is carried out using the available information.
The equity agreement also implies the delivery of the object within the time period set in paper. Fines for each day of delay are calculated in accordance with the provisions of the law. In this case, the percentage used in the standard formula is calculated as follows: 1/300 of the Central Bank's refinancing rate is divided by 100%. At the moment, this value is 9%.
The above formula is valid as part of the calculation of the penalty, which is exacted for the customer organization. In the event that the citizen is the interest holder, then the size of the penalty is equal to double the refinancing rate. As a result, the formula looks like this: 1/150 is multiplied by 9% and divided by 100%. It is worth emphasizing that the amount of penalties, and at the same time, accrued interest, in no case should exceed the cost of the entire order or purchase.
Sanctions Calculations
Fee for late payment under the contract shall be recorded in cases of repeated violation of the existing terms of the agreement. Fines are payable in case of failure to fulfill the clause of the agreement once. Sanctions are imposed for non-compliance with various provisions of the written agreements. Their value must be recorded in the relevant contract. The amount of the penalty is directly dependent on the value of the contract.
Consider an example of calculating late fees. In the event that the contract price does not exceed three million rubles, then the amount of the fine will be 2.5% of the amount. When the value of the contract is more than three million, but less than fifty, then the size of the sanction will be equal to two percent of this amount.
The procedure for collecting fines and penalties
It is possible to recover the penalty from the party that violated the terms of the agreement by peaceful means or through a court. In the first case, the defendants are sent a payment document with a request for payment of monetary compensation. At the same time, it is important to attach to the claim the calculation of penalties and damage that was caused by untimely fulfillment of obligations.
In case of refusal by the other party to compensate for losses incurred by the applicant, it is required to apply to the court with a corresponding statement of claim.Documents that are relevant to the case and are able to confirm the fact of non-fulfillment of the obligation are attached to it.
Conclusion
Thus, in the framework of concluding a purchase and sale agreement with an installment payment or other agreement, the parties discuss the procedure for action in case of violation of the terms of the agreement. Both sides accept it, that is, then there is no turning back.
A person who has not complied with a certain provision must pay the corresponding penalty to the second party to the transaction. That is, we are talking about a fine or interest. The defendant will be able to pay the penalty for each day of default on a voluntary basis. In case of refusal of the violator, the citizen has every right to appeal to the court to defend his interests.