Compute late-payment interest and recovery compensation (EU, Directive 2011/7)
invoice_late_paymentCalculate statutory late-payment interest on unpaid B2B invoices under EU Directive 2011/7/EU, split period-by-period with national rates and fixed recovery compensation.
Instructions
Before your agent sends a dunning letter or books a receivable: what is legally due on an unpaid B2B invoice. Post the claim (amount, currency, country, due date - or invoice date plus agreed terms - and payment date) and get late-payment interest computed PERIOD BY PERIOD under Directive 2011/7/EU: the reference rate changes every 1 January and 1 July, so a claim straddling several half-years is split into tranches, each at the rate of its own half-year - applying today's rate to the whole period is simply wrong. Statutory rate = ECB main refinancing rate (NBP reference rate for Poland) plus the national margin, with the national transposition actually applied: France 10 points, Germany 9 on the Basiszinssatz base, Belgium rounding the reference up to the half point, 8 points elsewhere. Covers FR, DE, ES, IT, NL, BE, PT and PL, with an explicit fallback to the Directive minimum for the other Member States - a national rule is never guessed. Adds the fixed recovery compensation of Art. 6 (EUR 40, tiered in Poland), each component cited to its article. Paying on time is a valid answer, not an error. Price: $0.01 per call First call each day free (trial). Docs: https://invoket.com/docs/api/invoice-late-payment
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| amount | Yes | Principal of the unpaid claim, simple decimal string, strictly positive. currency is ISO 4217 and required (XXX and XTS refused). Interest is computed in the currency of the claim while the fixed compensation is in euros by the Directive: outside the euro, total_due is null and a note says so - NO conversion is performed | |
| country | Yes | Member State whose transposition applies, ISO 3166-1 alpha-2 (EL accepted for GR), required. FR, DE, ES, IT, NL, BE, PT and PL carry their own national rule; any other Member State gets the Directive minimum, explicitly flagged rule_source eu_minimum_fallback. A third country is refused (unsupported_country): the Directive governs commercial transactions within the Union, and no rule is guessed beyond it | |
| currency | Yes | ||
| due_date | Yes | Contractual due date. Alternatively supply invoice_date plus payment_terms_days; with neither, the national statutory default applies and the response says so. A term beyond the 60-day legal cap is NOT refused: it is computed as supplied, with a note recalling the cap may make it unenforceable. Dates must be real calendar dates, and a date outside the snapshot coverage (before 2011, or beyond the last published half-year) is a 400 date_out_of_range - the rate of an unopened half-year is never extrapolated | |
| paid_date | Yes | Date of payment or of the assessment, defaulting to today. Paying on time is a valid, paid answer: days_late 0, total_due 0, flat_fee.source not_due, with the rationale citing art. 3(1). An optional contractual_rate (annual, in points) applies ONLY if it exceeds the statutory rate, which stays a public-policy floor (art. 7); otherwise the statutory rate applies and a note says so |