{"id":69295,"date":"2018-12-20T11:01:07","date_gmt":"2018-12-20T10:01:07","guid":{"rendered":"https:\/\/tcm.be\/glossarium\/default-interest\/"},"modified":"2026-01-14T23:02:58","modified_gmt":"2026-01-14T22:02:58","slug":"default-interest","status":"publish","type":"glossarium","link":"https:\/\/tcm.be\/en\/glossarium-en\/default-interest\/","title":{"rendered":"Default interest"},"content":{"rendered":"\n<p><strong>Default interest<\/strong> is <a href=\"https:\/\/tcm.be\/en\/applying-interest-in-the-event-of-late-payment\/\">interest resulting from the late or overdue payment<\/a> of a sum initially fixed by a commercial contract. This <strong>interest<\/strong> is paid by a debtor to his creditor to offset a loss occasioned by his late payment. This <strong>interest<\/strong> likewise applies in connection with the lending of money.<br><br>The <strong>default interest rate <\/strong>is set by law at <strong>2%<\/strong>.<\/p>\n\n\n\n<p><strong>Default interest <\/strong>is charged from the 1st day of the month following the month during which the debtor defaulted.<br><br>A distinction is made between <strong>default interest<\/strong> and <a href=\"https:\/\/tcm.be\/en\/compensatory-interest\/\"><strong> compensatory interest<\/strong><\/a>.<br><br>For more information, do not hesitate to check our glossary about <a href=\"https:\/\/tcm.be\/en\/interests-on-debts\/\">interests on debts<\/a>.<br><br>Updated 20\/12\/2018<\/p>\n\n\n\n<p>Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at\u00a0<a href=\"mailto:glossary@tcm.be\">glossary@tcm.be<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-69295","glossarium","type-glossarium","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium\/69295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/glossarium"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=69295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}