Late fees that get paid
State laws cap late fee rates — check local rules before enforcing.
Clear payment terms in the contract beat surprise fees after the fact.
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Flat, monthly %, or daily % late fees on overdue invoices.
Results
Late fee
$75
Total due
$5,075
Effective APR
18.3%
Summary
$75 late fee on $5,000 invoice (30 days late).
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State laws cap late fee rates — check local rules before enforcing.
Clear payment terms in the contract beat surprise fees after the fact.
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