Legal Question in Construction Law in California

Is it legal for a general contractor to charge a finance charge on past due balances after 30-days if it is stated on the billing statement, such as stating "A finance charge of 1% (12% per annum) will be charged on past due accounts after 30 days" and should that be stated in the contract?


Asked on 11/17/11, 10:23 pm

1 Answer from Attorneys
George Shers Law Offices of Georges H. Shers

Anyone supplying goods or work, etc., can impose an interest charge. it definitely should be included in the contract, along with how it is calculated [daily basis on unpaid amount, etc.].

Read more
Answered on 11/18/11, 2:04 pm


Related Questions & Answers

More Construction Law questions and answers in California