GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||
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15:03 Jun 25, 2019 |
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Portuguese to English translations [PRO] Bus/Financial - Finance (general) / Audit Reports | |||||||
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| Selected response from: Douglas Bissell Portugal Local time: 08:10 | ||||||
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Summary of answers provided | ||||
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5 | default interest |
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4 +1 | Late payment interest |
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4 +1 | Interest on arrears |
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2 | statutory interest ( 'interest pursuant to statute') |
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Discussion entries: 6 | |
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default interest Explanation: Default Interest. The interest that a borrower must pay after default. If a borrower defaults on a loan, he/she must pay default interest in order to compensate the lender for the added risk of extending credit to him/her. Default interest can also be payable in other cases of contractual default, e.g. rent arrears, failure to pay invoices, etc. |
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Late payment interest Explanation: Juros de mora são os juros cobrados sobre valores pagos em atraso. Example sentence(s):
https://www.lawinsider.com/clause/late-payment-interest https://www.significados.com.br/juros-de-mora/ |
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Interest on arrears Explanation: This is the term I have always seen/used |
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statutory interest ( 'interest pursuant to statute') Explanation: .... if awarded by the court. Otherwise, if claimed in the writ, refer to the other answers. Example sentence(s):
Reference: http://eng.proz.com/personal-glossaries/entry/2133644-juros-... Reference: http://goughsq.co.uk/publication/calculating-claims-of-inter... |
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