Verzugszinsen (EN)

Verzugszinsen

Verzugszinsen are interest charges that accrue for late payment of a due invoice and are legally regulated. They serve as an incentive for timely payment and can already be threatened in the second reminder. The amount of default interest is based on the European Central Bank's base rate and is increased by a certain surcharge.

Process Flow

stateDiagram-v2   [*] --> Due Date   Due Date --> Timely Payment: Payment made   Due Date --> Default: Payment missing   Default --> First Reminder: after due date   First Reminder --> Timely Payment: Payment made   First Reminder --> Second Reminder: Payment missing   Second Reminder --> Timely Payment: Payment made   Second Reminder --> Default Interest: Payment missing   Default Interest --> Full Payment: including interest 

In Context

• Typically used together with dunning, payment terms, and accounts receivable management
• Related to: Interest rate, dunning procedure, Due date, Payment term
• Example use: For an unpaid invoice of €5,000 with a payment term of 30 days, default interest applies after 60 days of delay, calculated based on the ECB base rate plus 8 percentage points surcharge