Interest Rate on Unpaid Receivables

The interest rate on unpaid receivables in Tbilisi, Georgia can vary based on different factors. Here are some key points regarding interest rates on unpaid receivables in Georgia:

1. Interest Accrual: Interest accruing for months prior to July 1, 2016, accrues at the rate of 12 percent annually (1 percent per month).

2. Legal Rate of Interest: The legal rate of interest in Georgia is set at 7 percent per annum for cases where the rate percent is not established by a written contract.

3. Bank Lending Rate: The Georgia Bank Lending Rate was reported at 12.860% pa in April 2024, showing an increase from the previous rate.

4. National Bank Policy: The National Bank of Georgia has initiated a gradual exit from tight monetary policy and reduced the policy rate to 10.25%.

These details provide an overview of the interest rates related to unpaid receivables in Georgia, including specific rates and regulations that may apply in different situations.