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Civil Code of Ukraine, Art. 625(2) · State Statistics indices

3% per annum and inflation loss calculator

Enter the debt and the period of delay. The calculator gives three per cent per annum for each day and the inflation loss by the consumer price indices of the State Statistics Service of Ukraine.

Partial payments, if any

How 3% per annum and inflation losses are calculated

  1. Three per cent per annum accrue on the debt for each day of delay: debt × 3 % × days / days in the year. A year of 366 days is counted apart. A contract or a law can set another rate (Civil Code Art. 625(2)).
  2. The inflation loss is the debt multiplied by the product of the monthly consumer price indices for the period of delay, less the debt itself. The indices are multiplied, not added.
  3. The 15th-day rule. If the delay started on day 1-15 of a month, that month counts; if it started on day 16 or later, the count starts with the next month. A debt paid on day 1-15 is not indexed for that month; paid on day 16 or later, it is (Joint Chamber of the Commercial Cassation Court of the Supreme Court, 20.11.2020, case No. 910/13071/19).
  4. A partial payment comes off the indexed balance, and the chain of indices does not break, also in months of deflation (Commercial Cassation Court of the Supreme Court, 26.06.2020, case No. 905/21/19). After a payment, three per cent run on the balance.
  5. Deflation does not reduce the debt: if the total index is below 100 %, there is no inflation loss.

The indices come from a mirror of the State Statistics Service. If the index for the last month is not published yet, the calculator takes 100 % and says so. Check the working before you file a claim.