{
  "url": "https://openlegislation.uk/late-payment-of-commercial-debts-interest-act-1998/section-7",
  "json_url": "https://openlegislation.uk/late-payment-of-commercial-debts-interest-act-1998/section-7.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/7",
  "kind": "section",
  "number": "7",
  "heading": "Purpose of Part II.",
  "text": "(1) This Part deals with the extent to which the parties to a contract to which this Act applies may by reference to contract terms oust or vary the right to statutory interest that would otherwise apply when a qualifying debt created by the contract (in this Part referred to as “the debt”) is not paid.\n(2) This Part applies to contract terms agreed before the debt is created; after that time the parties are free to agree terms dealing with the debt.\n(3) This Part has effect without prejudice to any other ground which may affect the validity of a contract term.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 7 fully in force; s. 7 not in force at Royal Assent see s. 17(2); s. 7 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. 7 in force (E. W. NI.) in so far as not already in for ce at 7.8.2002 by S.I. 2002/1673, art. 2; S. 7 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/7",
    "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."
}