viivästysmaksusta

Viivästysmaksusta is a Finnish term referring to a late payment penalty or interest charge. It is a sum of money that a debtor must pay to a creditor if a payment is not made by the agreed-upon due date. This charge is typically applied to overdue invoices or loan repayments.

The purpose of a viivästysmaksu is to compensate the creditor for the financial loss incurred due to the delayed payment. This loss can include the cost of capital that is tied up and unavailable for other uses, as well as the administrative costs associated with chasing the overdue payment. It also serves as an incentive for the debtor to pay on time in the future.

The specific amount or calculation method for a viivästysmaksu is often stipulated in the contract between the parties or, in the absence of a specific agreement, is governed by Finnish law. Finnish law specifies a reference interest rate, to which a certain margin is added to determine the legal rate of interest on late payments. For consumer transactions, there are often statutory limits to prevent excessively high charges.

In practice, a viivästysmaksu can be expressed as a fixed sum or as a percentage of the overdue amount. It is a common practice in both business-to-business and consumer transactions to encourage timely settlement of financial obligations.