What are collection costs?
If you do not pay an invoice on time, the creditor may charge collection costs.
How are collection costs calculated?
Collection costs consist of a percentage of the outstanding amount. The percentage is calculated according to a graduated scale. These percentages and amounts are as follows:
|Outstanding Amount||Collection Costs|
|Over the first € 25,000||15%|
|Over the next € 50,000||12,5%|
|Over the next € 100,000||10%|
|Over the excess||8%|