South Carolina Late Fee Calculator

Find the legal maximum late fee in South Carolina. Based on S.C. Code §34-31-20 (legal rate of interest).

Max per month
1.5%
Annualized cap
18%
Written agreement
Required
Grace period
0 days
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South Carolina Late Fee Calculator

Based on S.C. Code §34-31-20 (legal rate of interest)

Late fee owed$15.00

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

How South Carolina late fees work

In South Carolina, late payment fees on commercial invoices are governed by S.C. Code §34-31-20 (legal rate of interest). The legal maximum is 1.5% per month (18% annualized). Legal rate 8.75% per year (set annually by SC Department of Revenue). Written contracts may set higher rates.

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

South Carolina prompt-pay law

South Carolina Prompt Pay Act (S.C. Code §29-6-10 et seq.) Subs paid within 7 days of GC receiving payment; 1% per month interest if late.

Stop calculating late fees by hand

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

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