The change of interest from delay and implementation of the minimum compensation for recovery costs for debts

On 1^st of July 2013 an amendment of Government Regulation (Act No. 180/2013 Coll.), which regulates amount of interests from delay and payment from delay according to Civil Code, and which sets minimum compensation for recovery costs for debts (amendment No. 180/2013 Coll) became effective. According to the amendment the annual value of interest from delay will newly correspond to the value of the repo rate set by the Czech National Bank for the last day of the calendar half-year, which precedes the calendar half-year in which the delay occurred, increased by 8% compared with the previous 7%.

Further change in the amendment is the implementation of the minimum compensation for recovery costs for debts in the amount of CZK 1200, which applies in case of transactions between businessmen or between businessman and public authorities which lead to the delivery of goods or the provision of services for remuneration.

The amendment became effective together with the amendment of the Commercial Code about the due date.