Section 10(1)

In this Part— “contract term” means a term of the contract creating the debt or any other contract term binding the parties (or either of them); “contractual remedy” means a contractual right to interest or any contractual remedy other than interest; “contractual right to interest” includes a reference to a contractual right to charge interest; “overall remedy”, in relation to the late payment of the debt, means any combination of a contractual right to interest, a varied right to statutory interest or a contractual remedy other than interest; “substantial remedy” shall be construed in accordance with section 9.

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Source: legislation.gov.uk · retrieved 2026-08-15