viivästysmaksujen

Viivästysmaksujen is a Finnish term that translates to "late payment fees" or "late charges" in English. It refers to the additional amount of money a debtor must pay to a creditor when a payment is not made by the agreed-upon due date. These fees are a common mechanism used by businesses and individuals to compensate for the financial inconvenience and potential loss of income caused by delayed payments.

The specific regulations and common practices surrounding viivästysmaksujen in Finland are governed by Finnish law, primarily the Interest Act (Korkolaki). This legislation outlines the maximum interest rate that can be charged on overdue payments, ensuring that late fees remain reasonable and do not constitute excessive penalties. The law also defines when late fees are applicable and how they are calculated.

Typically, late payment fees are applied to various types of debts, including invoices for goods or services, loan repayments, and rent payments. The purpose of these fees is twofold: to incentivize timely payments and to cover the administrative costs and potential financial risks associated with managing overdue accounts. Businesses often include clauses regarding late payment fees in their terms and conditions or on their invoices. When a payment is overdue, the creditor can then legally charge the stipulated fee. The calculation is usually based on a percentage of the outstanding amount or a fixed sum, as defined by the contract or statutory regulations.