Ohio Calculadora de Cargos por Mora
Calculate late fees for Ohio invoices using state-specific rules, maximum rates, and grace periods.
OH Quick Facts
Applicable Statutes
- Ohio Rev. Code § 1343.01 (legal rate)
- Ohio Rev. Code § 1343.03 (rate when not stipulated)
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Ohio Late Fee Rules
Statutory maximum is 8%/year on written instruments.
Amounts over $100K: parties may agree to any rate.
Interest rates printed on invoices are NOT enforceable (Ohio Supreme Court, 2008).
Both parties must expressly agree to rates in a separate written contract.
Important Note
Ohio is notable: rates on invoices alone are NOT enforceable. Both parties must agree in a written contract. Include late fee terms in service agreements, not just invoices.
This information is for general educational purposes only and does not constitute legal advice. Ohio laws may change. Consult a licensed attorney in your state for advice specific to your situation.
Ohio Late Fee FAQs
What is the maximum late fee allowed in Ohio?
In Ohio (OH), the maximum late fee is: No statutory cap; must be in a written contract agreed by both parties. The maximum interest rate is 8% per year (default); exempt for principal over $100K. Always include late fee terms in your contracts before invoicing.
Is there a grace period for late fees in Ohio?
Ohio grace period: No statutory grace period. Check your specific contract terms and applicable OH statutes for details.
What is the most common late fee rate used in Ohio?
The most common late fee rate for commercial invoices in Ohio is 1.5% per month. Ohio is notable: rates on invoices alone are NOT enforceable. Both parties must agree in a written contract. Include late fee terms in service agreements, not just invoices.
Which Ohio statutes govern late fees on invoices?
The key Ohio statutes governing late fees and interest on invoices are:
- Ohio Rev. Code § 1343.01 (legal rate)
- Ohio Rev. Code § 1343.03 (rate when not stipulated)
Consult a OH attorney for advice specific to your situation.
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