[eckesicle]

The exact wording in our contracts and the government guidance is “8% plus the Bank of England base rate”.

They mean “percentage points”.

https://www.gov.uk/late-commercial-payments-interest-debt-re...

As I understand it, from our lawyer, is that this exact wording is automatically enforceable in UK courts and easiest in the event of a dispute. It’s also generally internationally accepted.

[hananova]

I've always wondered, in cases like this where 8%+2% (for example) can either mean 10% or 8.16%, why doesn't the contract just give a fictional example of how the maths would work out?