Go Back   English Forum Switzerland > Help & tips > Other/general
Reply
 
Thread Tools Display Modes
  #1  
Old 09.02.2015, 23:11
Newbie
 
Join Date: Feb 2015
Location: BUDAPEST
Posts: 1
Groaned at 1 Time in 1 Post
Thanked 0 Times in 0 Posts
mbc8px has slipped a little
Swiss Civil Code - Question about Foreign Companies

Dear All,

I would like to have a question that in Switzerland what is the base and the legal background for the interest on late payment between two companies?

A hungarian company and a company registerd in Iceland has concluded an agreemenet by and between, and the swiss law is binding for its agreement and service.

The hungarian company issued its invoice in EUR currency to the Iceland company.

The Iceland company has not paid the invoice in time, so the hungarian compay would like to claim its interest on late payment. The binding law is the Swiss.

Questions:

1) What is the interest rate I have to use?
2) What is legal background ?

Swiss Code Civil?
Part Five

http://www.admin.ch/ch/e/rs/2/220.en.pdf


Art. 73 1 Where an obligation involves the payment of interest but the rate is not set by contract, law or custom, interest is payable at the rate of 5% per annum.


Thank you for your answers!!
Reply With Quote
  #2  
Old 10.02.2015, 08:24
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Misery-Courtion
Posts: 13,520
Groaned at 171 Times in 135 Posts
Thanked 9,651 Times in 5,510 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: Swiss Laws and Legislation - English Translations

Why would the Swiss civil code be applicable to a company registered in Hungary? The civil code of the country where registered is what's usually applied in these cases.

And no need to post the same question 3 times.
Reply With Quote
  #3  
Old 10.02.2015, 11:07
Today only's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Europe
Posts: 3,742
Groaned at 484 Times in 294 Posts
Thanked 3,985 Times in 1,985 Posts
Today only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond repute
Re: Swiss Laws and Legislation - English Translations

Quote:
View Post
Why would the Swiss civil code be applicable to a company registered in Hungary? The civil code of the country where registered is what's usually applied in these cases.

And no need to post the same question 3 times.
Because Swiss law is binding for it's agreement and services ......

Quite common in contracts to have a different place of jurisdiction and which law takes precedence in commercial contracts.

London/English law is favoured as it is precise but litigation is expensive

Paris/French law is also used it's not so precise but can be cheaper
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Swiss Civil Code - Property Held in Co-ownership Merrylegs Permits/visas/government 2 07.01.2014 08:45
US taxes: question about the Foreign Housing Exclusion (form 2555) swiss_in_training Finance/banking/taxation 8 16.05.2012 16:06
Tax question for Swiss working in foreign University okost Finance/banking/taxation 9 18.04.2012 22:21
Tax at source for foreign employees of foreign companies? ichthyst Finance/banking/taxation 1 17.03.2008 16:20


All times are GMT +2. The time now is 16:33.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0