Late Payment Interest and B2B Debt Collection in Norway

Do missing tens-of-thousands stand away from payment in the Landlord's favor after due time in the month shift? Since you rent out (sell something) exclusively to another collecting company (B2B Commercial purchase), Norway's justice principle tightens - the tenant's protecting walls via 14 debt collection days' consumer laws are wiped away to secure the flow between companies' capital circulation under heavy European B2B laws.

1. Freely Agreed Penalty Interest / Contract Interest

Opposite from the private habitation market in the Tenancy Act (Where it exclusively only is legal for the landlord to use State-controlled % for delays via the Late Payment Interest Act) – the Commercial Contract (B2B) builds on a very hard-hearted freedom of contract system:

• You and the rental company can sign that the company must endure sky-high "Sanction interest" if the invoice passes midnight. E.g., a hard 15% Annual default Interest is often determined. Is it crossed in writing that 15% is activated on the corporate breach for late capital? Then the rental enterprise can be demanded full settlement after a hard-hitting calculator interest day-fresh from day-one. (Warning: The interest cannot be absurd 1000 % via mafia assumption, then the law via mitigation of the agreement will cut it. 12- 18% occurs often valid B2B under contract structure)

WHAT IF one forgot agreed interest rates?

• If the contract was completely empty about Commercial penalty interests: The law falls via the state's reference interest ("Late Payment Interest Act §3") over the debt to a solid price of around 12.5% - and rises via references for each year if market steering flies!

2. The EU Law (EUR 40 Standard Compensation For B2B)

A gigantic tool-less loss that real estate companies are hit by, concerns the implementation of the EU's B2B collection right in the Norwegian Delay Act in 2013 (§3a). If your payer is an enterprise / "B2B", the Landlord, the landlord who sells your premises right asset worthy rental secured, has a direct absolute right with right for compensation of EUR 40 ("Standard compensation for Collection") for the inconvenience.

• How it works: The rent deadline passes midnight unpaid? The Landlord can from the actual "Dawn" on day 1 immediately hand over the bill added 40 Euros equivalent Norwegian kroner (around 450 - 470 kroner equivalent per dispatch at settlement time)!
• Quick profit friction for landlord: This deals excellently rawly with the office administration budget. You must NOT have sent a preceding payment warning to impose the fee's power or waited 14 days for the Reminder delays ("debt collection law" consumer nonsense here)! The fee that the Landlord was harmed with time consumption is laid formlessly straight through on the day!

(Of course if the collector takes over the tasks for the company as "heavy debt collection/court proceedings", these euros are replaced and booked internally with them in the process's installments/state)

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