In compensation receivables, interest prevents the loss of value of the receivable amount.
Types of Interest
- Legal interest (general rule)
- Commercial interest (in commercial transactions)
- Advance interest (Central Bank)
- Agreed interest
Interest Starting Date
- Unfair act: from the date of the event
- Contract: from the date of performance or default
- In enforcement proceedings: from the date of pursuit
- Uncertain receivable case: from the date of the lawsuit to the full amount
- Partial lawsuit: from the date of the lawsuit to the partial amount
Interest Rate
- Annual current (Central Bank announces)
- Generally 10-30% between
- Interest periods (3 months, 6 months)
Supreme Court 17. HD and HGK
HGK adopts that the interest start date should be from "event date", and that the creditor should not be victimized when the litigation process is long.
Compensation lawyer is recommended.