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24.1.21

Collection rates and fees.

Overview of the main rates of charges and accruals
Collection rates  and fees.
Collection rates  and fees.
Frida Jonassen
Customer success manager
The following rates are effective as of 01.01.22
  • The collection rate is NOK 700
  • Reminder fee is NOK 35
  • Collection notice fee is NOK 35
  • Legal fee NOK 1 223
  • The default interest rate is 8,5%
  • EU fee NOK 390

How the collection rate is determined:

Collection fees and reminder fees are regulated by the collection rate stipulated in the collection regulations.

As of 01.01.2022 remains unchanged at NOK 700. The reminder fee is sat at 10% of collection rate, and the fee for reminders and collection notices can therefore be up to NOK 35.

Main amount

The main amount which excludes interest and charges, is the initial sum that the creditor holds with the debtor. If the debtor has paid the invoice late, but failed to pay interest, you as the creditor can still submit the claim for debt collection. The debtor is still legally obliged to pay interest and debt collection cost even if the main amount is equivalent to zero when the claim is transferred to a debt collection agency.

Collection fees

Debt collection fees are established and regulated in accordance with the debt collection legislation. The size of the fee is set based on the main amount of the claim and is divided in to two scales: light and heavy fees. The rates differ between consumers and businesses, where the rates are increased by 1,5 times in claims against businesses. An addition of 25% VAT may be applied if the company making the claim is not subject to VAT.

Light fee:

When claims are forwarded to debt collection, a payment request is sent with a light fee. The fee is determined by a table established by debt collection regulations.

Heavy fee:

A payment request with heavy fee can be sent out no earlier than 28 days after the payment deadline of the light fee request has expired. The heavy fee is double the amount of the light fee and are calculated from a table established by the debt collection regulations.

See table of debt collection fees here

Legal fee

Legal action may be an alternative if the extrajudicial collecting method fails. Judicial debt collection is, for example, processes in connection with attachment requests, bankruptcy notification, or conciliation board proceedings. The court fee is then the cost the public requires as payment for the services, and as of 01.01.22 is NOK 1233.

Until the judicial system determines who is accountable for payment, certain debt collection firms predetermine the expenses of litigation for the creditor.

An overview of legal fees can be found here

Interest rates

In the event that the debtor misses the due date, the creditor may decide to charge default interest. A statutory rate known as the default interest rate controls the amount of interest that may be charged in the case of late payment. The amount of the late payment interest rate fluctuates once every six months and is 8.5% as of January 1, 2022. The default interest rate shall be equal to the key interest rate of Norges Bank + 8%.

The interest rate can be calculated from the first day after the invoice has fallen due, or 30 days after the invoice date if the due date has not been set.

EU Fee

In cases where your customer is a company, you have the option of claiming a separate EU fee, also called standard compensation, instead of a reminder fee. The size of the EU fee is as of today NOK 390, - and can be added to the main claim the day after the due date on the invoice.

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Collection rates  and fees.
Collection rates and fees.
Overview of the main rates of charges and accruals
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24.1.21