X

Legal Bulletin

logo

A NEW METHOD FOR COMPUTING INTERESTS ON LATE PAYMENTS WAS INTRODUCED WITH THE NEW REGULATION

The new method to calculate the interest in arrears will depend on the rate certified by the Financial Superintendence for consumer credit

 

Previously, the interest rate for late payments was determined according to the benchmark nominal interest rate defined by the Financial Superintendence of Colombia. Now the interest rate on late payments will be the interest rate determined by the Financial Superintendence of Colombia for consumer credit, subtracting 2 points from it.