Debtor's Delay in Payment

Debtor's Delay in Payment

If the debtor delays payment beyond the due date, the creditor has the right to claim the agreed-upon interest from the date of maturity—provided that there is an agreement between the parties and that the interest rate falls within the limits set by the Ministry of Commerce, Industry and Investment Promotion, in coordination with the Oman Chamber of Commerce and Industry.

Supreme Court
Appeal No. 413/2010 – Commercial – Session dated 14/12/2011