CHAPTER 7CONTRIBUTIONS AND REIMBURSEMENTS
Article 31Interest on late payment
1.
If a State does not fulfil its financial obligations, the Union rules on interest on late payment determined by Article 78 of Regulation (EU, Euratom) No 966/20124 of the European Parliament and of the Council or any other Regulation which may replace it in relation to the payment of contributions to the Union budget shall be applicable by analogy.
2.
When payment is late by no more than 20 days, no interest shall be charged. When payment is late by more than 20 days, interests shall be charged for the entire delay.