Georgia Late Fee Calculator
Calculate late fees and interest on overdue invoices in Georgia — pre-set to the state's 7% statutory default rate.
Late fee rules in Georgia
Statutory interest rate
7% per year simple interest where no rate is set by written contract. Judgments bear the Federal Reserve prime rate on the day of entry plus 3%, fixed at entry, unless a written contract specifies a rate.
O.C.G.A. § 7-4-2(a)(1)(A) (legal rate); § 7-4-12 (judgment rate)
Can you charge more? (contract & caps)
A written contract controls — parties may agree to any simple-interest rate where the principal exceeds $3,000 (subject to the 5%-per-month criminal usury ceiling for amounts under $250,000, uncapped at $250,000+). Amounts of $3,000 or less are capped at 16% per year.
Prompt payment rules
Georgia Prompt Pay Act (O.C.G.A. §§ 13-11-1 to 13-11-9): late construction payments accrue interest at 1% per month, though contract terms control if they differ.
Worth knowing
Prompt Pay Act interest is forfeited unless the payee flagged the interest provision when requesting payment — and accepting a progress or final payment releases all interest claims on it.
This page is general information, not legal advice. Statutory rates change — some reset annually or quarterly — and how they apply depends on your contract and situation. Verify current rates against the cited statutes or consult a lawyer before charging interest.
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