sin perjuicio de la aplicación del interés legal

English translation: notwithstanding the application of statutory interest

08:10 Aug 8, 2019
Spanish to English translations [PRO]
Law/Patents - Law (general)
Spanish term or phrase: sin perjuicio de la aplicación del interés legal
Pago del servicio, siendo el impago causa de rescisión del contrato sin perjuicio de la aplicación del interés legal del dinero sobre importe adeudado.
Carven
English translation:notwithstanding the application of statutory interest
Explanation:
I think "statutory interest" is more accurate here.
Selected response from:

Georgina Grigioni
Argentina
Local time: 17:12
Grading comment
I agree with this ine the most!

4 KudoZ points were awarded for this answer



Summary of answers provided
5 +1without prejudice to the right to apply statutory interest
AllegroTrans
4 -1notwithstanding the application of statutory interest
Georgina Grigioni
4 -1without affecting the accrual of legal interest
Posted via ProZ.com Mobile
Enrique Soria
3without prejudice to the application of legal interest
Jane Martin


  

Answers


31 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
without prejudice to the application of legal interest


Explanation:
Spain. In Spain, liability for non-payment of money includes interest, either at an agreed upon rate or the legal rate.97 Compound interest is permitted if judicially demanded, “even if the obligation is silent on this point.”98
https://ouclf.iuscomp.org/compound-interest-in-international...

Artículo 1109, Codigo Civil
Los intereses vencidos devengan el interés legal desde que son judicialmente reclamados, aunque la obligación haya guardado silencio sobre este punto.

Interest due shall produce legal interest from the date on which it was judicially demanded, even if the obligation is silent on this point.
The Civil Law in Spain and Spanish-America: Including Cuba, Puerto ...
https://books.google.co.uk/books?isbn=158477245X

Jane Martin
Local time: 21:12
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 172

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: Definitely right idea but "legal" interest only implies legality whereas "statutory" interest is a specific rate set by legislation
2 days 5 hrs
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5 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
without prejudice to the right to apply statutory interest


Explanation:
What does statutory interest rate mean?
A legal rate of interest is the highest rate of interest that can be legally charged on any type of debt, for which a lender must adhere to.30 Apr 2019
Legal Rate of Interest Definition - Investopedia
https://www.investopedia.com/terms/l/legal-rate-of-interest....


The interest you can charge if another business is late paying for goods or a service is 'statutory interest' - this is 8% plus the Bank of England base rate for business to business transactions. You cannot claim statutory interest if there's a different rate of interest in a contract.
Late commercial payments: charging interest and debt recovery ...
https://www.gov.uk/late-commercial...interest-debt.../chargi...



AllegroTrans
United Kingdom
Local time: 21:12
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1420

Peer comments on this answer (and responses from the answerer)
agree  Antonio Berbel Garcia
4 hrs
  -> thanks
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
without affecting the accrual of legal interest


Explanation:
This would be what is most common in the US. Statutory interest and legal interest are two different concepts in the US.

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Note added at 6 hrs (2019-08-08 14:21:05 GMT)
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In financial English, interest is accrued or charged, not applied .


Enrique Soria
Local time: 15:12
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 32

Peer comments on this answer (and responses from the answerer)
disagree  AllegroTrans: it's not about it being "affected" and by suggesting this term you have ignored completely the vital and important words "without prejudice"
2 days 11 mins
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5 days   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
notwithstanding the application of statutory interest


Explanation:
I think "statutory interest" is more accurate here.


    Reference: http://payontime.co.uk/the-a-to-z-glossary-of-common-credit-...
    https://www.merriam-webster.com/dictionary/interests
Georgina Grigioni
Argentina
Local time: 17:12
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 12
Grading comment
I agree with this ine the most!

Peer comments on this answer (and responses from the answerer)
disagree  AllegroTrans: you have misunderstood the meaning odf "without prejuduce" which is vital to this sentence
2 days 2 hrs
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