Virgin Islands Demand for Payment of an Open Account by Creditor
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How to fill out Demand For Payment Of An Open Account By Creditor?
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FAQ
Post-judgment interest is provided for under the Judgments Act at 5% per year from judgment until payment.
Contract and tort claims: six years from the date on which the cause of action accrued. Claims brought in respect of deeds: 12 years from the date of breach of the obligation under the deed.
Under the Judgments Act 1907, domestic judgment debts carry interest at a rate of 5% a year from the date of judgment until satisfaction of the debt. Foreign judgments will carry the same rate of interest under the Judgements Act, unless the BVI court decides to accept a rate of interest applied by the foreign court.
A foreign judgment that cannot be registered under the Reciprocal Enforcement of Judgments Act 1922 can be enforced by way of a claim. The cause of action is one of a simple contract debt, based on the foreign judgment, and the claim is commenced like any other claim originating in the BVI.
Post-judgment interest is provided for under the Judgments Act at 5% per year from judgment until payment.
