# Consumer Credit Act 1974, Section 187A: Definition of ‘default sum’


(1) In this Act ‘default sum’ means, in relation to the debtor or hirer under a regulated agreement, a sum (other than a sum of interest) which is payable by him under the agreement in connection with a breach of the agreement by him.
(2) But a sum is not a default sum in relation to the debtor or hirer simply because, as a consequence of his breach of the agreement, he is required to pay it earlier than he would otherwise have had to.

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Source: https://www.legislation.gov.uk/ukpga/1974/39/section/187A (the official version)
Page: https://openlegislation.uk/consumer-credit-act-1974/section-187A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.