New York Calculateur de Penalites de Retard
Calculate late fees for New York invoices using state-specific rules, maximum rates, and grace periods.
NY Quick Facts
Applicable Statutes
- N.Y. Gen. Oblig. Law § 5-501 (usury)
- N.Y. Banking Law § 14-a (legal rate)
- N.Y. Penal Law § 190.40 (criminal usury)
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New York Late Fee Rules
Civil usury cap is 16% per year; criminal usury at 25%.
For loans over $250K, up to 25% is permitted; over $2.5M, no cap.
Default legal rate (no contract) is 9% per year.
Late fees must be agreed in writing before the obligation is incurred.
Important Note
New York has a structured usury framework. For larger commercial transactions ($250K+), limits are relaxed or eliminated.
This information is for general educational purposes only and does not constitute legal advice. New York laws may change. Consult a licensed attorney in your state for advice specific to your situation.
New York Late Fee FAQs
What is the maximum late fee allowed in New York?
In New York (NY), the maximum late fee is: Must be contractually agreed; $50 or 5% of payment (whichever is lower) in some contexts. The maximum interest rate is 16% per year (civil usury); 25% criminal usury threshold. Always include late fee terms in your contracts before invoicing.
Is there a grace period for late fees in New York?
New York grace period: 5-day grace period commonly referenced. Check your specific contract terms and applicable NY statutes for details.
What is the most common late fee rate used in New York?
The most common late fee rate for commercial invoices in New York is 1.5% per month. New York has a structured usury framework. For larger commercial transactions ($250K+), limits are relaxed or eliminated.
Which New York statutes govern late fees on invoices?
The key New York statutes governing late fees and interest on invoices are:
- N.Y. Gen. Oblig. Law § 5-501 (usury)
- N.Y. Banking Law § 14-a (legal rate)
- N.Y. Penal Law § 190.40 (criminal usury)
Consult a NY attorney for advice specific to your situation.
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