Subsection 2: Interest on arrears, flat-rate compensation and additional compensation for recovery costs

Late payment occurs when the sums due to the creditor, who has fulfilled his legal and contractual obligations, are not paid by the contracting authority on the due date stipulated in the concession contract or on expiry of the payment period.

Late payment shall give rise, under the conditions set out in this sub-section, to interest on arrears, a fixed indemnity and, where applicable, additional compensation paid to the creditor by the contracting authority.From the day following the expiry of the payment period or the due date set out in the concession contract, late payment shall give rise, ipso jure and without further formality, to interest on arrears, the rate of…