Vermont Late Fee Calculator
Based on Vt. Stat. tit. 9 §41a (legal rate of interest)
QuickBillMaker applies late fees automatically based on your configured policy. Set it once and stop chasing payments by hand.
How Vermont late fees work
In Vermont, late payment fees on commercial invoices are governed by Vt. Stat. tit. 9 §41a (legal rate of interest). The legal maximum is 1% per month (12% annualized). Legal rate 12% per year on commercial; consumer cap typically 18% per year. Written contracts may set rates within these caps.
The fee must be stated in a written agreement before the work is performed. Without a written rate, only the statutory default rate applies.
Vermont prompt-pay law
Vermont Prompt Payment Act (9 V.S.A. §4001 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 Vermont late fee rate automatically when invoices go overdue.
Automate late fees free