Taylors Solicitors

| Bookmark | Help | Print

Call us on 01254 297900 

Taylors Solicitors Homepage

Interest in your Contract Terms

» Posted on: 21 May 2012

» Back to news

» Latest News

Taylors Commercial Disputes Team regularly advises clients in relation to enforcement of judgments made by the Court; usually, following a claim which we have handled successfully on the client’s behalf. Legislation provides that from the date of the judgment you are entitled to interest on the amount awarded to you at the rate of 8% per annum.

But what if the contract which is the subject of your dispute, provided a rate of interest at a rate higher or lower than 8%? The terms and conditions of the contract may have included a term that you were entitled to less than 8%, for example 2% above base rate (currently 0.5%). On the other hand, the contract may have included a term that you were entitled to more than 8%. So which are you entitled to after judgment? If your contractual interest term provided interest at a rate lower than 8%, then after judgment you will be entitled to interest at 8%, even though this is more than the amount stated in the contract. But if the rate of interest in your contract terms is higher than 8%, then provided that the contract included a right to interest after judgment, you will be entitled to the higher rate included in the contract.

Taylors Commercial Disputes Team can give you advice on any judgment you have obtained and let you know your position in relation to interest. We can also check the terms and conditions of your standard contracts to ensure that they contain a specific provision setting out entitlement to contractual interest after judgment. We can help you play your cards right to get the most out of your judgment. Please contact the Taylors Commercial Disputes Team on 01254 297900 or email charlotte.barron@taylors.co.uk.

Copyright 2006 - 2012 Taylors Solicitors

» Print          »

Home  |  Services  |  News  |  People  |  About  |  Contact
Blackburn: Rawlings House, Exchange Street, Blackburn, BB1 7JN.
Tel: 01254 297900 / Fax: 01254 297916
Manchester: Ninth Floor, 80 Mosley Street, Manchester, M2 3FX.
Tel: 0161 200 5690 / Fax: 0161 200 5699
©Taylors Solicitors  |  Website Terms  |  Data Protection  |  Website Design  |  Sitemap
Regulated by The Law Society