North Carolina Late Fee Calculator
Based on N.C. Gen. Stat. §24-1 (legal rate of interest); §24-1.1
QuickBillMaker applies late fees automatically based on your configured policy. Set it once and stop chasing payments by hand.
How North Carolina late fees work
In North Carolina, late payment fees on commercial invoices are governed by N.C. Gen. Stat. §24-1 (legal rate of interest); §24-1.1. The legal maximum is 1.5% per month (18% annualized). Legal rate 8% per year; written contracts may set up to 16% per year on amounts ≤ $25,000. Commercial loans over $25K have no cap.
The fee must be stated in a written agreement before the work is performed. Without a written rate, only the statutory default rate applies.
North Carolina prompt-pay law
North Carolina Prompt Payment Act (N.C. Gen. Stat. §143-134.1 for public; §22C-1 for construction) Construction subs paid within 7 days of GC receiving payment; 1% per month interest if late.
Stop calculating late fees by hand
QuickBillMaker applies your North Carolina late fee rate automatically when invoices go overdue.
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