This article describes the Interest Calculator feature and how to use it within Automated Civil Litigation (ACL)

The Interest Calculator calculates interest based on either the Alberta Judgment Interest Act or a manually entered interest rate. In addition, users can enter in any payment made on the principal amount and/or if there are costs incurred. 

Interest Calculator

Click the Court Forms tab located at the bottom of the main page. Using the Search field, type in Interest, and double click on: 

Alberta - Interest Calculator
British Columbia - Pre and Post Judgment Interest Calculator.
Ontario - Pre and Post Judgment Interest Calculator.

• Enter the relevant information into the dialog. 

Alberta
British Columbia
Ontario

1. Enter the dollar amount of the claim.
2. Enter the Start Date.
3. Enter the End Date.
4. Choose Use Published Rate, it differs per region
   1.  
      • Alberta - use the applicable rate from the Alberta Judgment Interest Act. Or choose Manually entered date to enter in a different interest rate.
      • British Columbia - use either the BC Pre judgement rate or the BC Post judgement rate. Or choose Manually entered date to enter in a different interest rate.
      • Ontario - use the applicable rate from the Courts of Justice Act.
5. Choose which published rate to use in the interest calculation.
6. Choose whether there have been payments made and/or costs incurred.

Payments Made/Cost Incurred - Alberta & British Columbia

If there has been any payment made and/or if costs have been incurred, select either one, or both options. This will open a further section for users to capture the relevant data.

• For Payments enter the date the payment was made, any description needed, and the amount of payment.
• For Costs, enter the date, the description of the cost and the amount of the cost.
• Once all data has been entered, click OK to generate the calculation report.

Interest Calculator Payments - Ontario

• Double click on Interest Calculator with Payments (Single or Multi Product) within the Court Forms.

• Choose the number of products and enter the name for each product.
• Click Payment Details. Note this must be done for each product.

1. Enter the interest rate.
2. Enter the annum from and to dates.
3. Enter the PRINCIPAL DEBT.
4. Check the Payments made, or various interest rates apply if applicable.
5. Check Pay Interest BEFORE Principal if applicable.
6. Enter in the date, interest rate and the amount of payment.
7. Click OK.

Once all data has been entered, click OK to generate the calculation report