{
  "url": "https://openlegislation.uk/late-payment-of-commercial-debts-interest-act-1998/section-10",
  "json_url": "https://openlegislation.uk/late-payment-of-commercial-debts-interest-act-1998/section-10.json",
  "legislation": "ukpga/1998/20",
  "legislation_title": "Late Payment of Commercial Debts (Interest) Act 1998",
  "legislation_url": "https://openlegislation.uk/late-payment-of-commercial-debts-interest-act-1998",
  "path": "section/10",
  "kind": "section",
  "number": "10",
  "heading": "Interpretation of Part II.",
  "text": "(1) In this Part—\n“contract term” means a term of the contract creating the debt or any other contract term binding the parties (or either of them);\n“contractual remedy” means a contractual right to interest or any contractual remedy other than interest;\n“contractual right to interest” includes a reference to a contractual right to charge interest;\n“overall remedy”, in relation to the late payment of the debt, means any combination of a contractual right to interest, a varied right to statutory interest or a contractual remedy other than interest;\n“substantial remedy” shall be construed in accordance with section 9.\n(2) In this Part a reference (however worded) to contract terms which vary the right to statutory interest is a reference to terms altering in any way the effect of Part I in relation to the debt (for example by postponing the time at which interest starts to run or by imposing conditions on the right to interest).\n(3) In this Part a reference to late payment of the debt is a reference to late payment of the sum due when the debt is created (excluding any part of that sum which is prevented from carrying statutory interest by section 3).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 10 fully in force; s. 10 not in force at Royal Assent see s. 17(2); s. 10 in force for specified purposes: at 1.11.1998 by S.I. 1998/2479, art. 3; at 1.7.1999 by S.I. 1999/1816, art. 3; at 1.9.2000 by S.I. 2000/2225, art. 3(1), Sch.; at 1.11.2000 by S.I. 2000/2740, art. 3(1); S. 10 in force (E. W. NI.) in so far as not already in force at 7.8.2002 by S.I. 2002/1673, art. 2; S. 10 in force (S.) in so far as not already in force at 7.8.2002 by S.S.I. 2002/337, art. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1998/20/section/10",
    "retrieved_at": "2026-10-29T09:22:57.968528+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}