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The Netherlands does have statutory interest. This is the interest which a creditor can legally demand in the event of a late payment.
A distinction is drawn between statutory interest for non-commercial transactions (Article 6:119 of the Civil Code) and statutory interest for commercial transactions (Article 6:119a of the Civil Code).
Statutory interest for non-commercial transactions applies to all agreements with private individuals or consumers.
Statutory interest for commercial transactions applies to all agreements with businesses and government organisations.
Statutory interest for non-commercial transactions is 2 %. Statutory interest for commercial transactions is 8 %.
Statutory interest can fluctuate.
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