Late Payment Interest
Key Facts
Abbreviation
LPI
Pronunciation
/leɪt ˈpeɪmənt ˈɪntəˌrɛst/
Category
Business
Related Field
Accounting
Examples in Context
- Penalty charges for late payment shall not be regarded as interest for the purpose of this Article.
- In the event that the Buyer is late in making payment, WIRTGEN CHINA is entitled to charge interest at the rate of the Chinese legal provisions applicable for delay in payment.
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