West Virginia Late Fee Calculator
Based on W. Va. Code §47-6-5 (legal rate of interest)
QuickBillMaker applies late fees automatically based on your configured policy. Set it once and stop chasing payments by hand.
How West Virginia late fees work
In West Virginia, late payment fees on commercial invoices are governed by W. Va. Code §47-6-5 (legal rate of interest). The legal maximum is 0.67% per month (8.040000000000001% annualized). Legal rate 6% per year; written contracts may set up to 8% per year on consumer; commercial may 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.
West Virginia prompt-pay law
West Virginia Prompt Payment Act (W. Va. Code §5A-3-54 for state; §14-3 for construction) State: payment within 60 days of receipt. Construction subs paid within 10 days of GC receiving payment.
Stop calculating late fees by hand
QuickBillMaker applies your West Virginia late fee rate automatically when invoices go overdue.
Automate late fees free