Instruction

1

Determine the amount of the principal debt. The amount of VAT included in this amount.

2

Define the start date and end date of the period of delay in payment. The start date is the day following the day must be filled with obligation. The end of the period is the actual execution, payment of the debt.

3

Determine the rate upon which the accrual is made. If the terms of the agreement set the interest rate of the penalty (for example, 0.1% of the outstanding amount per day of delay) or the specific

**penalties**for the day (500 per day) should be governed by that agreement. If such a clause is not in the contract, be guided by norms of the civil code, i.e. charge**interest**at the refinancing rate.4

Determine the amount

**of penalties**for one day of delay. Calculated according to the refinancing rate, it should be remembered that this annual rate. To calculate the**interest**for one day, in the denominator indicate 360дней.5

Determine the total amount of the penalty. To do this,

**interest**for one day multiply the number of days of delay.Note

If it is a delay in the execution of non-monetary obligations, such as delay in construction, penalties are awarded only in the case where it is established by contract, the total price of the contract.

Useful advice

If multiple contracts, you must calculate separately for each, and then summarize and report the total amount of interest charges.