Legal interest of money

This is the legally fixed percentage rate used to calculate the amount of damages that the debtor must pay to the creditor when the latter is in default, i.e. in culpable delay (intentional or negligent) in fulfilling his obligation to pay a certain amount of money owed. This legal surcharge or penalty for delay in performance applies only if no different contractual interest applicable to this eventuality is stipulated between the creditor and the debtor or if no other more specific legal rule is in force providing for a different percentage rate of interest on account of the matter in question. Its legal nature is regulated by Article 1108 of the Spanish Civil Code.