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Legal Interest Rate in the Philippines by Ryan Acosta is a document available to read on EtoBox.

What is Legal Interest Rate in the Philippines about?

The document discusses Philippine doctrine on interest rates applicable to final judgments. It outlines the following key points: 1) Under Article 2209 of the Civil Code, the legal interest rate is 6% per annum unless a different rate is stipulated. 2) The Eastern Shipping Lines case established that the 12% rate under a Central Bank circular applies to judgments involving loans/forbearance, while the 6% rate applies to damages from breach of obligations. 3) The 2013 Nacar case modified these guideline

Author

Ryan Acosta

Language

EN