Missouri Late Fee Calculator
Based on Mo. Rev. Stat. §408.020 (legal rate of interest)
QuickBillMaker applies late fees automatically based on your configured policy. Set it once and stop chasing payments by hand.
How Missouri late fees work
In Missouri, late payment fees on commercial invoices are governed by Mo. Rev. Stat. §408.020 (legal rate of interest). The legal maximum is 0.75% per month (9% annualized). Legal rate 9% per year; written contracts may set up to 10% per year. No usury cap on commercial loans over $5,000.
The fee must be stated in a written agreement before the work is performed. Without a written rate, only the statutory default rate applies.
Missouri prompt-pay law
Missouri Prompt Payment Act (Mo. Rev. Stat. §34.057 for state; §431.180 for construction) State: 30 days from invoice. Construction subs paid within 15 days of GC receiving payment; 1.5% per month interest.
Stop calculating late fees by hand
QuickBillMaker applies your Missouri late fee rate automatically when invoices go overdue.
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