Michigan Late Fee Calculator

Find the legal maximum late fee in Michigan. Based on Mich. Comp. Laws §438.31 (legal rate of interest).

Max per month
0.58%
Annualized cap
6.959999999999999%
Written agreement
Required
Grace period
0 days
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Michigan Late Fee Calculator

Based on Mich. Comp. Laws §438.31 (legal rate of interest)

Late fee owed$5.80

QuickBillMaker applies late fees automatically based on your configured policy. Set it once and stop chasing payments by hand.

How Michigan late fees work

In Michigan, late payment fees on commercial invoices are governed by Mich. Comp. Laws §438.31 (legal rate of interest). The legal maximum is 0.58% per month (6.959999999999999% annualized). Legal rate 5% per year; written contracts may set up to 7% per year (criminal usury at 25%). Commercial contracts can negotiate higher.

The fee must be stated in a written agreement before the work is performed. Without a written rate, only the statutory default rate applies.

Michigan prompt-pay law

Michigan Building Contract Fund Act (MCL §570.151 et seq.); Prompt Payment Act for state Construction subs paid within 30 days of GC receiving payment.

Stop calculating late fees by hand

QuickBillMaker applies your Michigan late fee rate automatically when invoices go overdue.

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