23 Feb Statutory interest rates applicable in 2023

The General Administration of the Treasury of the Federal Public Service Finance communicated the statutory interest rate determined in accordance with the method provided for under the law of 5 May 1865  on interest bearing loans.

As of 1 January 2023, the statutory interest rate has been raised  to 5,25% (in comparison to 1,50% in 2022) in:

• private matters, between natural persons as well as between legal entities (civil matters);
• transactions between enterprises and private individuals (commercial matters).

The statutory interest rate applicable to late payments in commercial transactions, on the other hand, has been raised to 10,50% for the first half of 2023 (in comparison to 8% in 2022). A commercial transaction consists in any transaction carried out against payment: 

• between enterprises, also involving liberal professions, self-employed or enterprises of the non-market sector;
• or between enterprises and public authorities, when the debtor is the public authority and the contract falls under the “small contracts” regime, i.e. the amount due is estimated at less than EUR 8,500, or less than EUR 30,000 in the case of a contract in the water, postal, energy or transport sector;
• and which relates either to the supply of goods, the provision of services or the design and execution of public works and civil engineering works.

These statutory interest rates of 5,25% and 10,50% apply subsidiarily in the absence of an agreement on a different interest rate..  The parties can always agree on an interest rate to be applied in the event of late payment, which then constitutes a contractual default interest.

For more information on this subject, feel free to contact Mr Didier CHAVAL.

With our best regards.
The Cairn Legal team