How do I enter the Cost/Judgment amount?
Follow these scenarios to complete the Judgment/Order and Cost details.
1. Post-judgment interest awarded at set rate as per agreement. Simple interest calculation
Judgment/order
Judgment amount = $5,000
Pre-judgment interest calculated = $156.75
Judgment/order amount = $5,156.75
Cost
Cost amount = $300
Post-judgment Interest: Agreement/Contract rate of 19.99% from date of judgment (October 3, 2022)
Cost amount = $300
2. Post-judgment interest awarded as per the Courts of Justice Act. Simple interest calculation
Judgment/order
Judgment amount = $5,000
Pre-judgment interest calculated = $50
Judgment/order amount = $5,050
Cost
Cost amount = $300
Post-judgment Interest: Under the Courts of Justice Act from the date of judgment (October 3, 2022)
Cost amount = $300
3. Post-judgment interest awarded at set rate as per agreement. Interest is compounded vs simple.
Judgment/order
Judgment amount = $5,000
Pre-judgment interest calculated = $250
Judgment/order amount = $5,250
Cost
Cost amount = $300.00
Post-judgment interest calculated: 7.9% compounded monthly from date of judgment (October 3, 2022)
Cost Amount = $300.00
4. Post-judgment interest is calculated at a variable rate.
Note: Common terms include: “at bank rate plus X%”, “prime plus X%”, or “interest to be calculated at the prescribed rate in the prescribed manner”, etc.
Judgment/order
Judgment amount = $5,000
Pre-judgment interest calculated = $250
Judgment/order amount = $5,250
Cost
Cost amount = $300.00
Post-judgment Interest calculated = At bank rate plus 1.25 % from date of judgment (October 3, 2022)
Cost Amount = $300.00
5. Judgment and costs have different post-judgment interest rates
Judgment/order
Judgment amount = $5,000
Pre-judgment interest calculated = $250
Judgment/order amount = $5,250
Cost
Cost amount = $300.00
Post-judgment Interest calculated = on judgment at 7.9% compounded monthly from date of judgment (October 3, 2022), and on costs as per Courts of Justice Act
Cost Amount = $300.00
6. No post-judgment interest
Judgment/order
Judgment amount = $5,000
Post-judgment Interest = 0%
Judgment/order amount = $5,000
Cost
Cost amount = $300.00
Post-judgment Interest = 0%
Cost amount = $300.00
