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# Verzugszinsen über dem Basiszins aus dem offenen Betrag zahlen

## English translation: ECB base rate + 8%

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
 German term or phrase: Verzugszinsen über dem Basiszins aus dem offenen Betrag zahlen English translation: ECB base rate + 8% Entered by:

 22:36 May 5, 2003
German to English translations [PRO]
Bus/Financial - Finance (general) / interest rates
 German term or phrase: Verzugszinsen über dem Basiszins aus dem offenen Betrag zahlen Im Falle des Zahlungsverzuges hat die Käuferin an die Verkäuferin Verzugszinsen in Höhe von 8 % p.a. über dem Basiszins der EZB aus dem jeweils offenen Betrag zu zahlen. Does this mean that in the event of payment delay, the Purchaser pays the Seller: a) late charge of 8% p.a. applied on the outstanding amount PLUS the base rate of the ECB? or b) late charge calculated thus: 8% p.a. + ECB base rate, added then applied to outstanding amount? But I guess a = b if one (correctly) assumes that the ECB base rate in a) will also be applied to the outstanding amount. Geddit?
 EZB base rate + 8% Explanation:So if the interest rate published by the EZB (European Central Bank) is e.g. 4.5% than the late payment charge would be 12.5% per year of the unsettled amount.
Selected response from:

Humlova
Austria
 4 KudoZ points were awarded for this answer

5 +3EZB base rate + 8%
 Humlova
5default interest of 8% above the base rate
 Alexander Schleber
4see suggested translation

9 mins   confidence: peer agreement (net): +3
EZB base rate + 8%

Explanation:
So if the interest rate published by the EZB (European Central Bank) is e.g. 4.5% than the late payment charge would be 12.5% per year of the unsettled amount.

 HumlovaAustriaSpecializes in fieldNative speaker of: GermanPRO pts in category: 4

agree
 1 hr

agree  Ralf Lemster: E*C*B ;-)
 7 hrs

agree
 9 hrs

3 hrs   confidence:
default interest of 8% above the base rate

Explanation:
EZB will not be understood by everyone.

 Alexander SchleberLocal time: 17:59Works in fieldNative speaker of: German, EnglishPRO pts in category: 41

13 hrs   confidence:
see suggested translation

Explanation:
to pay default interest above the base lending rate from the outstanding amount

over 4,000 hits for base lending rate

The Base Lending Rate will be used for determining your interest rate. Merrill Lynch will set the Base Lending Rate, which will be adjusted from time to time, with reference to commercially recognized interest rates. The rates are based on a sliding scale of percentages added to the current Base Lending Rate depending upon the amount of your average daily debit balance.

Reference: http://www.mldirect.ml.com/publish/public/agreement.asp?file...
 Ron StelterLocal time: 10:59Native speaker of: English