Connecticut Late Fee Calculator
Based on Conn. Gen. Stat. §37-3a (legal rate of interest)
QuickBillMaker applies late fees automatically based on your configured policy. Set it once and stop chasing payments by hand.
How Connecticut late fees work
In Connecticut, late payment fees on commercial invoices are governed by Conn. Gen. Stat. §37-3a (legal rate of interest). The legal maximum is 1.5% per month (18% annualized). Legal rate 8% per year for civil judgments. Written contracts may set higher rates. Late fees must be reasonable.
The fee must be stated in a written agreement before the work is performed. Without a written rate, only the statutory default rate applies.
Connecticut prompt-pay law
Connecticut Prompt Payment Act (Conn. Gen. Stat. §49-41a for construction; §4a-71 for state) Construction subs paid within 30 days of GC receiving payment; 1% per month interest if late.
Stop calculating late fees by hand
QuickBillMaker applies your Connecticut late fee rate automatically when invoices go overdue.
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