Chapter- 5 Decision of the Arbitrator and Implementation

Section 33: Interest to be Paid

Estimated reading: 1 minute 27 views

Except when otherwise provided for in the agreement, in case the arbitrator has taken an award providing for the payment of any amount by one party to another, the concerned party shall also pay interest at the rate prescribed by the arbitrator in the light also of the nature of the business related to the dispute and by ensuring that it is not higher than the rate of interest currently charged by commercial banks in respect to similar transactions.

Provided that no interest shall be charged for the period between the date of the decision by the arbitrator and the time limit prescribed for the implementation of the award under this Act.

Share this Law

Section 33: Interest to be Paid

Or copy link

Discover Nepal's laws effortlessly. Our user-friendly platform simplifies legal understanding and accessibility, serving individuals throughout the country.