Georgia Late Fee Calculator
Based on O.C.G.A. §7-4-2 (legal rate of interest); §7-4-16 (commercial)
QuickBillMaker applies late fees automatically based on your configured policy. Set it once and stop chasing payments by hand.
How Georgia late fees work
In Georgia, late payment fees on commercial invoices are governed by O.C.G.A. §7-4-2 (legal rate of interest); §7-4-16 (commercial). The legal maximum is 1.5% per month (18% annualized). Legal rate 7% per year; commercial contracts may charge up to 18% per year (1.5%/mo) when in writing.
The fee must be stated in a written agreement before the work is performed. Without a written rate, only the statutory default rate applies.
Georgia prompt-pay law
Georgia Prompt Pay Act (O.C.G.A. §13-11-1 et seq.) Payment due within 15 days of receipt of pay request; 1% per month interest if late.
Stop calculating late fees by hand
QuickBillMaker applies your Georgia late fee rate automatically when invoices go overdue.
Automate late fees free