Invoice details
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Maximum allowable late fees and interest rates vary by country and state, and are strongest when stated in your contract or invoice terms. This tool is for information only, not legal advice.
What late fee should you charge?
Common practice: freelancers and small businesses typically charge either a flat fee (e.g. $25–$50) or interest of 1–2% per month (roughly 12–24% per year) on overdue balances. In the EU and UK, statutory rules let businesses charge interest around 8 percentage points above the central bank base rate on late commercial payments, plus fixed recovery costs. In the US, maximum rates vary by state.
The most important rule: a late fee is far easier to enforce when it's written into your contract and printed on the invoice before the payment is late. If your terms don't mention a fee yet, add a line like: "Overdue balances accrue interest at 1.5% per month."
Want a contract with the late-fee clause already written for you? It's in the Get Paid Kit, together with escalation email scripts and an invoice tracker.