When the Judge finds in your favour, what date is used to decide the amount of interest?

Hi,

When the Bank Guarantee is taken to litigation and the Judge rules that the original money plus interest plus costs is to be paid, when is the interest payable to??

Is it up to the date of completion that is stated on the Bank Guarantee?

or

Is it up to the date of the Judge ruling that interest should be paid?

or

Is it up to the date that the bank/insurance company actually make the payment of the origianl money?

Kelju

Good question kelju.

Just bumping this for Maria and co as I am also interested in the answer to this.

As far as i was aware it is until the date of the final judgement issued by the courts but i am sure Maria will clarify it.

Some answers below in bold green ( same text as your email):

Hi,

When the Bank Guarantee is taken to litigation and the Judge rules that the original money plus interest plus costs is to be paid, when is the interest payable to??

Interests are from completion deadline stated in the contract to date of  payment of money into Court.

Is it up to the date of completion that is stated on the Bank Guarantee?

or

Is it up to the date of the Judge ruling that interest should be paid?

or

Is it up to the date that the bank/insurance company actually make the payment of the origianl money?

Kelju

Thanks nicholb for bumping it up and thanks to Maria for a clear answer.

Kel

We have also won our case in Madrid and in the court documents it looks like they have awarded us interest from the date we signed the contract and not the completion deadline. It also refer's to an interest rate of 6% per annum, is this correct as I have heard from someone else that this has been reduced to 4% pa.