Florida Calculadora de Cargos por Mora
Calculate late fees for Florida invoices using state-specific rules, maximum rates, and grace periods.
FL Quick Facts
Applicable Statutes
- Fla. Stat. § 687.02 (usurious contracts)
- Fla. Stat. § 218.70-80 (Prompt Payment Act)
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Florida Late Fee Rules
No statutory maximum late fee for commercial invoices.
Interest exceeding 18%/year is usurious for transactions under $500K.
Late fees must be clearly spelled out in contracts.
The Prompt Payment Act (government contracts) specifies 1%/month on late payments.
Important Note
Florida gives businesses significant flexibility. The 18% annual usury limit for transactions under $500K is the main constraint.
This information is for general educational purposes only and does not constitute legal advice. Florida laws may change. Consult a licensed attorney in your state for advice specific to your situation.
Florida Late Fee FAQs
What is the maximum late fee allowed in Florida?
In Florida (FL), the maximum late fee is: No statutory cap; must be reasonable and contractually stated. The maximum interest rate is 18% per year simple interest (25% for loans over $500K). Always include late fee terms in your contracts before invoicing.
Is there a grace period for late fees in Florida?
Florida grace period: No statutory grace period for commercial invoices. Check your specific contract terms and applicable FL statutes for details.
What is the most common late fee rate used in Florida?
The most common late fee rate for commercial invoices in Florida is 1.5% per month. Florida gives businesses significant flexibility. The 18% annual usury limit for transactions under $500K is the main constraint.
Which Florida statutes govern late fees on invoices?
The key Florida statutes governing late fees and interest on invoices are:
- Fla. Stat. § 687.02 (usurious contracts)
- Fla. Stat. § 218.70-80 (Prompt Payment Act)
Consult a FL attorney for advice specific to your situation.
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