un interés igual al legal del dinero

English translation: interest at the statutory rate

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:un interés igual al legal del dinero
English translation:interest at the statutory rate
Entered by: AllegroTrans

08:18 May 13, 2011
Spanish to English translations [PRO]
Bus/Financial - Business/Commerce (general) / licensing agreement
Spanish term or phrase: un interés igual al legal del dinero
Where the licensee does not meet its payment obligations, it must pay interest, but is there a set way of expressing this in UK English, please?

The whole sentence is:
"El incumplimiento de los plazos de pago previstos en este pacto, comportará la obligación de la cesionaria de pagar un interés igual al legal del dinero incrementado en cuatro puntos y a contar desde el primer día del incumplimiento"

Supplementary question: do others read "incrementado en cuatro puntos" as "plus four percentage points" - ie if the "legal" rate was 5%, the interest rate the licensee would have to pay would be 9% (5 + 4).... That's how I read it, but would appreciate some confirmation (or contradiction).

Many thanks
Comunican
United Kingdom
Local time: 21:22
interest at the statutory rate
Explanation:
The term is used in both UK and US
#
Default & statutory interest rate
Default and statutory interest. Interest rates relating to VAT, Air ... when default and statutory interest are applied, how the rates are calculated, and the ...
customs.hmrc.gov.uk/channelsPortalWebApp/...
#
Interest Calculator - Calculate Late Payment Interest - Pay ...
The Late Payment of Commercial Debts (Interest) Act. The UK Government introduced legislation to give businesses a statutory right to claim interest from other ...
payontime.co.uk/late-payment-legislation-interest-calcula...
#
Statutory Interest
Statutory Interest ... Multiply the number of days by the Daily Interest rate figure, 65p x 100=£65. This gives you the amount of interest to be added to your claim at the ...
compactlaw.co.uk/.../statutory-interest.html

--------------------------------------------------
Note added at 1 hr (2011-05-13 10:08:38 GMT)
--------------------------------------------------

And Ireland:

[PDF]
Budget 2005 Pre-Budget Submission by the Irish Taxation Institute
131k - Adobe PDF
The statutory interest rate on tax underpayments however, was not ... overall cost of statutory interest. Outside the EU, other tax jurisdictions that have ...
irishtimes.com/focus/budget2005/submissions/taxinstitute.pdf
#

#
Statutory Interest in Scotland
The rate of statutory interest has been set at a level which reflects commercial reality. ... Statutory interest is to be calculated on a simple interest basis. ...
www.brewerconsulting.co.uk/cases/case.php?id=5758

And Canada

#
The Recovery of Pay System in Part III of the Canada Labour Code
The Canada Labour Code has never enacted similar provisions. This portion of the paper ... that the statutory interest in favour of the unpaid employee is ...
hrsdc.gc.ca/eng/labour/.../research/research12/page06.shtml
#
|Statutory declaration for lost items + sample| |us statutory ...
Statutory declaration for lost items + sample. nova scotia incorporation sample of statutory declaration, statutory accident benefits schedule ontario interest ...
ruthjarmantuition.co.uk/tyndall-florida-statutory-fee-sch...
#
statutory good faith
of statutory holidays canada, statutory power of attorney form, ... a statutory interest rate, 4 statutory holiday in ottawa, statutory health care power ...
1times1.net/cursos/qfg/f/statutory91017.php

--------------------------------------------------
Note added at 1 hr (2011-05-13 10:10:34 GMT)
--------------------------------------------------

And New Zealand

#
beehive.govt.nz - Statutory interest rate changes
beehive.govt.nz - The official website of the New Zealand Government ... Statutory interest rate changes. The interest rate courts can award for the recovery of ...
beehive.govt.nz/release/statutory-interest-rate-changes-0
#
[PDF]
Budget 2005 Pre-Budget Submission by the Irish Taxation Institute
131k - Adobe PDF
The statutory interest rate on tax underpayments however, was not reduced at. this time. ... such as Canada, New Zealand and the United States, operate statutory interest rates ...
irishtimes.com/focus/budget2005/submissions/taxinstitute.pdf
#
Liability cap includes contractual but excludes statutory ...
... Insurance Services Limited the High Court has held that a contractual cap on liability includes contractual interest but excludes statutory interest. ...
lexology.com/library/detail.aspx?g=bbf33798-6e1a-43aa-b05... - 64k
Selected response from:

AllegroTrans
United Kingdom
Local time: 21:22
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +4interest at the statutory rate
AllegroTrans
4interest at the legal money rate ......
FVS (X)


Discussion entries: 9





  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
interest at the legal money rate ......


Explanation:
Is how I always translate it.

--------------------------------------------------
Note added at 7 mins (2011-05-13 08:26:37 GMT)
--------------------------------------------------

Imprimir noticia
... surety or “bail and bond insurance” to guarantee the reimbursement of all sums paid on account plus the corresponding interest at the legal money rate, ...
unespa.es/.../After-Paying-Sums-On-Account-For-Your-Future-Home- Without-Any-Guarantee--Your-Money-Might-Fly-Aw-impn2972 - Cached

sums at a rate equal to the legal money rate of interest plus 1.5%. This rate of interest will also apply to BT in respect of any sums rightfully claimed by ...
globalservices.bt.com/static/assets/pdf/.../contrato_sta_ingles.pdf - Similar

--------------------------------------------------
Note added at 21 mins (2011-05-13 08:40:11 GMT)
--------------------------------------------------

El interés legal del dinero es el recargo que se debe de abonar, a modo de indemnización de daños y perjuicios legalmente fijada, cuando el deudor incurre en mora o retraso en el cumplimiento de su obligación de pagar el dinero que adeude, si no tuviera estipulado con el acreedor un interés contractual distinto para esta eventualidad. Lo regula el artículo 1.108 del Código Civil de España.

Así pues, en principio, el interés legal del dinero es el tipo de interés, determinado por una norma jurídica con rango de ley, que a falta de pacto en otro sentido adoptado entre las partes se aplica cuando una persona se retrasa en el pago del precio de una compraventa, en la devolución del capital que se le había prestado y/o sus intereses remuneratorios, o en otras situaciones similares; pero siempre y cuando el deudor sea verdaderamente responsable del retraso producido en el cumplimiento de la obligación principal que tenía asumida.

FVS (X)
Native speaker of: Native in EnglishEnglish
PRO pts in category: 172

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: right idea but wrong expression
1 hr
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +4
interest at the statutory rate


Explanation:
The term is used in both UK and US
#
Default & statutory interest rate
Default and statutory interest. Interest rates relating to VAT, Air ... when default and statutory interest are applied, how the rates are calculated, and the ...
customs.hmrc.gov.uk/channelsPortalWebApp/...
#
Interest Calculator - Calculate Late Payment Interest - Pay ...
The Late Payment of Commercial Debts (Interest) Act. The UK Government introduced legislation to give businesses a statutory right to claim interest from other ...
payontime.co.uk/late-payment-legislation-interest-calcula...
#
Statutory Interest
Statutory Interest ... Multiply the number of days by the Daily Interest rate figure, 65p x 100=£65. This gives you the amount of interest to be added to your claim at the ...
compactlaw.co.uk/.../statutory-interest.html

--------------------------------------------------
Note added at 1 hr (2011-05-13 10:08:38 GMT)
--------------------------------------------------

And Ireland:

[PDF]
Budget 2005 Pre-Budget Submission by the Irish Taxation Institute
131k - Adobe PDF
The statutory interest rate on tax underpayments however, was not ... overall cost of statutory interest. Outside the EU, other tax jurisdictions that have ...
irishtimes.com/focus/budget2005/submissions/taxinstitute.pdf
#

#
Statutory Interest in Scotland
The rate of statutory interest has been set at a level which reflects commercial reality. ... Statutory interest is to be calculated on a simple interest basis. ...
www.brewerconsulting.co.uk/cases/case.php?id=5758

And Canada

#
The Recovery of Pay System in Part III of the Canada Labour Code
The Canada Labour Code has never enacted similar provisions. This portion of the paper ... that the statutory interest in favour of the unpaid employee is ...
hrsdc.gc.ca/eng/labour/.../research/research12/page06.shtml
#
|Statutory declaration for lost items + sample| |us statutory ...
Statutory declaration for lost items + sample. nova scotia incorporation sample of statutory declaration, statutory accident benefits schedule ontario interest ...
ruthjarmantuition.co.uk/tyndall-florida-statutory-fee-sch...
#
statutory good faith
of statutory holidays canada, statutory power of attorney form, ... a statutory interest rate, 4 statutory holiday in ottawa, statutory health care power ...
1times1.net/cursos/qfg/f/statutory91017.php

--------------------------------------------------
Note added at 1 hr (2011-05-13 10:10:34 GMT)
--------------------------------------------------

And New Zealand

#
beehive.govt.nz - Statutory interest rate changes
beehive.govt.nz - The official website of the New Zealand Government ... Statutory interest rate changes. The interest rate courts can award for the recovery of ...
beehive.govt.nz/release/statutory-interest-rate-changes-0
#
[PDF]
Budget 2005 Pre-Budget Submission by the Irish Taxation Institute
131k - Adobe PDF
The statutory interest rate on tax underpayments however, was not reduced at. this time. ... such as Canada, New Zealand and the United States, operate statutory interest rates ...
irishtimes.com/focus/budget2005/submissions/taxinstitute.pdf
#
Liability cap includes contractual but excludes statutory ...
... Insurance Services Limited the High Court has held that a contractual cap on liability includes contractual interest but excludes statutory interest. ...
lexology.com/library/detail.aspx?g=bbf33798-6e1a-43aa-b05... - 64k

AllegroTrans
United Kingdom
Local time: 21:22
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 174
Grading comment
Selected automatically based on peer agreement.
Notes to answerer
Asker: This gets my vote. I'd been thinking "legally-established rate of interest for money", but I see "statutory" is better... Many thanks, AllegroTrans


Peer comments on this answer (and responses from the answerer)
neutral  FVS (X): what or which statutory rate???? Your cites are by no means equivalents.
14 mins
  -> The statutory rate in the context of the asker's question

agree  Tatty
1 hr
  -> thank you

agree  James A. Walsh
1 hr
  -> thank you

agree  philgoddard: The "money" bit is not necessary.
3 hrs
  -> thank you

agree  Yvonne Gallagher
7 hrs
  -> thank you
Login to enter a peer comment (or grade)



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