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Kuwaiti Commercial Code, Act No. 68 of 1980

Kuwaiti Commercial Code, Act No. 68 of 1980
Permission Text
Kindly translated by Prof. Dr. Hilmar Krüger, Cologne
Table of Contents

Sec. 102 of the Kuwaiti Code of Commerce, Act No. 68 of 1980

(1) The creditor has the right to receive interest of any commercial loan unless otherwise agreed. If the rate of interest is not stated in the contract the interest entitled to shall be the legal one (7%).

(2) Should the contract include an agreement on the rate of interest and the debtor fails to pay, the delay interest shall be calculated on the basis of the agreed rate.

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