Template:Nutshell Pledge GMSLA 15: Difference between revisions
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{{ | {{pgmslaprov|15}}. '''{{pgmslaprov|Interest}}''': If either {{pgmslaprov|Party}} fails to make payments when due it must pay interest on the outstanding balance between the original due date and the date of actual payment at the default interest rate set out in paragraph {{pgmslaprov|11.7}}. {{pgmslaprov|Interest}} will compound and accrue daily on an [[actual/actual]] basis. No interest is payable on any day where one {{pgmslaprov|Party}} tries to make a payment the other cannot receive it. <br> | ||
Latest revision as of 11:57, 26 April 2021
15. Interest: If either Party fails to make payments when due it must pay interest on the outstanding balance between the original due date and the date of actual payment at the default interest rate set out in paragraph 11.7. Interest will compound and accrue daily on an actual/actual basis. No interest is payable on any day where one Party tries to make a payment the other cannot receive it.