Note: The above standard contract default rate is the “default interest rate” published by the Queensland Law Society for the purposes of Queensland Real Estate Institute contracts made available to QLS members. This interest rate is a simple annual interest rate. On 19 April 2013, the President of the Supreme Court issued Practice Instruction 7/2013, in which he adopted a new approach to State Court interest rates for default judgments and payment orders and adapted to other jurisdictions. Corresponding practical instructions have been given to the District Court and the District Court. Interest on orders except for the maintenance of a normal amount in accordance with rule 17.03 of the Family Court Regulations, 2004 – rates applied at the beginning of the periods from 1 January to 30 June and from 1 July to 31 June. December set at 6% above the rbA cash target rate see also the family court website for historical interest rates and interest rates The interest rate is 4% above Barclays Bank`s base rate, which is currently 0.1%. Prices are valid at the close of business on the specified day. Due to a change in the key interest rate (spot rate) to be applied by registrars to default judgments and payment orders, it will vary to 0.10% from 1 January 2021. The interest rate of the Bar is the “contractual rate” referred to in the General Conditions of Sale. It was first published in 1990. From advocacy to judgment, the interest rate is at the discretion of the court, see also the court`s website for interest rates and historical interest rates.

TIP: If no default interest rate is specified in the contract, the default interest rate set by the Queensland Law Society will apply. The default interest rate can be found on the Queensland Law Society website. Under section 321 of the Legal Profession Act 2007 and section 72 of the Legal Profession Regulations 2017, a law firm is entitled to charge interest on unpaid legal fees in certain circumstances, but the interest rate charged can never exceed the rate required by section 59(3) of the Civil Procedure Act 2011 for a mandate debt. The Law Society`s current interest rate is 4.1% (as of March 19, 2020). The interest rate page of the Queensland Courts website and the interest rate calculator have been updated. Fixed: The July 2012 issue of Proctor contained an error in the list of the historical rate of standard contracts by default. The historical rate for April, May and June 2012 should have been 11.45%, not 11.40%, as published. For the period from January 1 to June 30, 2021, the rate will increase to 4.10% (spot rate of 0.10% + 4%). This rate is set by the Supreme Court of Queensland Practice Direction, the most recent (from 20.

January 2015) Practice Direction 7 of 2013 and is expected to be revised via the Queensland Courts website. Please address inquiries about interest rates to interestrates@qls.com.au interest in relation to a pre-conviction period to be set in connection with practice notice CM 16 – Interest in prejudice Your e-mail address will not be published. Required fields are marked with a *. . . Visit our fundraising offices in the following suburbs of Queensland: Save my name, email address and website in this browser for the next time I comment. .