Work out interest on delayed payment instantly with clear inputs, formula shown and shareable results.
Late payment statutes typically entitle a supplier to interest at a reference or central bank rate plus a fixed statutory margin, running from the day after the contractual due date. The entitlement usually applies automatically, without any need for a clause in the contract.
Applicable rate
Rate = Statutory reference rate + Statutory margin
Interest
Interest = Invoice amount x Rate x Days late / 365
Indicative estimate only. Fees, entitlements, limits and formulas vary by jurisdiction, statute, policy wording and the facts of the case. This is not legal, tax, insurance or financial advice — confirm with a qualified professional or the relevant authority.
The entitlement usually arises automatically, but in practice it has to be invoiced and pursued. Many suppliers waive it to preserve the relationship.
Only within limits. Many regimes void terms that exclude or substantially reduce the statutory remedy.