Section 8(4)

Any contract terms are void to the extent that they purport to— unless the overall remedy for late payment of the debt is a substantial remedy. confer a contractual right to interest that is not a substantial remedy for late payment of the debt, or vary the right to statutory interest so as to provide for a right to statutory interest that is not a substantial remedy for late payment of the debt,

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