Collection of fees in receivables finance agreement must not be “arbitrary, capricious or irrational” says High Court – OUT-LAW.com
‘The High Court has found that a lender must be rational when exercising its contractual discretion to charge collection fees under a receivables finance agreement. The agreement allowed for fees of up to 15%, however, the maximum chargeable for the lender to remain compliant with its duty was found, in this case, to be 4%.’
OUT-LAW.com, 1st august 2017
Source: www.out-law.com
