- This contract language binds the parties to an agreed-upon postjudgment interest rate: “All past due interest and/or principal shall bear interest from maturity until paid, both before and after judgment, at the rate of 9% per annum.” The language “clearly, unambiguously, and unequivocally” refers to postjudgment interest.
- This language does not: “Invoices not paid within the stated terms will be charged 1.5% per month. . . . All freight, demurrage and other charges shall be subject to an interest charge of 1-1/2% per month beginning on the first day after the due date of invoice.”
Recent Related Posts