Interest for bills receivable not paid yet are calculated according to the parameter MV_JURTIPOS, which determines whether interest is simple, compound or mixed, as follows:

• Simple Interest (Parameter MV_JURTIPOS = S)

• Compound Interest (Parameter MV_JURTIPOS = C)

• Mixed Interest (Parameter MV_JURTIPOS = M)

This type of interest is the association of simple interest with the compound one:

Up to 30 days: Simple interest is calculated.

Above 30 days: Compound interest is calculated.

Note: When there is no interest percentage indicated in the bill, interest is calculated by delinquency fee, as follows:

Interest = Delinquency Fee Amount * days in arrears