Interest and Surcharge on Arrears of Maintenance Ordinance 20032

Interest and Surcharge on Arrears of Maintenance Ordinance 2003 299 101

The seller apos s entitlement to payment of the price and interest on arrears was recognized.

c Defaulted on restructured loans, December 1998 defaulted on interest arrears notes, June 1999.

Regarding interest on or indexation of arrears, should the General Assembly decide to introduce interest charges on arrears, the rate should be fixed at a low level and should not have retroactive effect, and the annual rate should not exceed 1 per cent.

However, interest income on sub trust funds will continue to be credited one year in arrears.

Further, the administration will advise partners that the provision for charging interest on arrears will be enforced.

Finally, regarding interest on arrears and the capitalization of interest claimed by the seller, the Court of Appeal noted that article 78 CISG stated that any delay in payment gave rise to entitlement to interest on the arrears without notice being served and that such interest should start to accrue on the date on which the replacement goods were handed over to the buyer.

In comparison with other developing regions, the debt expansion attributable to rolling over interest arrears is therefore singularly large.

More ominously, the conversion of these cumulative arrears on interest payments into short term debt accounts for one third of the total increase in debt in the region since 1988.

Measures to encourage the payment of arrears

Arrears as a share of total debt

He further intended to pay some of the arrears when Member States remitted substantial payments of their arrears, as had occurred in 1996 when the Russian Federation had paid over 200 million in arrears.

a Excluding arrears reduction.

Arrears in assessed contributions

This differs from the policy in prior periods where interest earned from investments commingled with UNDP resources were credited to the trust fund accounts one year in arrears.

The surcharge ceiling is 100 of the arrears.

The table contained in annex VIII shows the breakdown between pre dissolution arrears and post dissolution arrears.

23. The apparent anomaly of contradictory trends in these two ratios is explained by the continuous growth of arrears on interest and principal that have been accumulated in sub Saharan countries over the years.

The gravity of the situation was even clearer in the case of Africa, since at the end of 1995 the accumulated principal and interest arrears on long term debt constituted nearly one third of external debt.

We must finally tackle the causes of these arrears.

It was not in the interest of the United Nations that countries which usually paid their contributions on time should have to fall into arrears because of a genuine inability to pay sharply increased contributions.

Eighteen low income countries have extinguished 12.6 billion of the 18.2 billion of eligible principal and interest arrears due to commercial banks under the IDA Debt Reduction Facility, and more recently under the Brady Plan.

A. Member States with remaining arrears

Haiti Stock of arrears and projected debt service, 2000 2005

The Government still owed arrears of salaries to civil servants.

Arrears of the former Yugoslavia amount to 2,081,599 (1994 2001).

(d) There were arrears of 24 months in reconciliation of inter office vouchers as at 31 December 1997, compared with the arrears of 15 months at 31 December 1995

78. Currently, IMF normally requires that all arrears to creditors be settled or agreement be close at hand on the clearing of arrears before funding is disbursed.

In UNEP, arrears of inter office voucher reconciliation had increased up to 24 months as at 31 December 1997, as compared to arrears of 15 months for the previous biennium.

29) and its Chairman should state the justification for doing so. His delegation also had reservations about the Committee's discussion of the topic of interest on arrears (paras. 30 and 31), which also fell outside the scope of its mandate.

At the same time, there are cases of wage arrears. For example, the total arrears for wages as of 1 February 2003 for all sectors of the economy was 29.1 million somoni.

Belarus had paid a large part of its arrears in 2003 2005.

Notices are regularly sent to member States reminding them of the arrears.

The Committee noted that, between 1995 and 1997, Guinea Bissau had steadily reduced its arrears, but that since that time its arrears had increased.

You shall not lend on interest to your brother interest of money, interest of food, interest of anything that is lent on interest

You shall not lend on interest to your brother interest of money, interest of food, interest of anything that is lent on interest

Finally, all Member States must pay their arrears promptly.

Urging and expecting all Member States currently in arrears to fulfil their duties under international law and to settle those arrears promptly and in full,

A higher and higher percentage of assessments are in arrears and remain uncollected.

44. Turning to the question of the settlement of the arrears of Member States, he said that both incentives and coercive measures should be adopted to encourage settlement of arrears and prevent future non payment of contributions.

With regard to the payment of arrears, Jordan rejected any punitive measures, since the vast majority of States in arrears were developing countries that were unable to pay their contributions owing to extenuating circumstances.

There were currently no arrears on the public external debt.

Youknowyou are not totake thekeysoutwithyou . His room was in arrears.

The indifference of some countries to settling their arrears was a cause of great concern.