Work out the interest a tribunal may include in a money award
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the amounts, the dates the lawyer supplies and any agreed rate, set out a pre-award interest calculation under section 25 and a post-due-date calculation under section 26. The tool uses only the rate and period the lawyer has chosen.
- What the lawyer must review
- The lawyer chooses the rate and the period, decides whether interest is already payable as of right, and settles any figure that goes into the award or the submissions.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the amounts, the dates the lawyer supplies and any agreed rate, set out a pre-award interest calculation under section 25 and a post-due-date calculation under section 26. The tool uses only the rate and period the lawyer has chosen. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Use section 25 only up to the date of the award, and only at a rate and for a period the lawyer has set. Do not award interest on interest under that section.
- Leave out an amount on which interest is already payable as of right. Leave the dishonour of a bill of exchange to the damages rules.
- Section 26 interest, which may be compound, runs from the day after the due date and only on the unpaid balance. It forms part of the award.
- This is the statutory power, not a proofread of an award draft, and not the deposit interest retained by an institution. State statutes were not opened.
Sources
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.