Free trucking tools / Late Payment Interest Calculator
Late Payment Interest Calculator
When a broker pays late, your rate confirmation or carrier agreement may let you charge interest on the past-due amount. Showing the exact number in your collection letter makes the demand concrete.
Enter the unpaid invoice amount, how many days late it is, and the annual interest rate from your agreement or the rate allowed in your state. The calculator shows simple interest owed and the total balance. Then use the demand-letter packet to send a formal demand.
Ready to collect? The demand-letter packet turns this number into a formal demand letter plus a bond-claim letter.
Check any broker free (authority, BMC-84 bond, surety). If a load goes unpaid, get a ready-to-send demand letter and bond-claim packet: $9 with code LAUNCH10 through Oct 29 (then $19).
Get the demand-letter packet ($9 w/ LAUNCH10)Free Broker Check
Frequently asked questions
Can I charge interest on a late freight invoice?
Only if your contract, rate confirmation, or invoice terms allow it, or if state law provides for it. Check your paperwork before adding interest.
What interest rate should I use?
Use the rate in your agreement. If there is none, statutory rates vary by state, so check your state or ask an attorney. This calculator uses simple interest.
When does a freight invoice count as late?
Usually after the payment terms on the invoice or carrier agreement, such as 30 days from delivery and receipt of paperwork.
What is the next step if the broker still will not pay?
Send a formal demand letter that states the amount and a deadline, then file a claim against the broker BMC-84 bond or BMC-85 trust. The demand-letter packet includes both.
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Results are estimates for planning. Check your rate confirmation and agreements for the terms that apply to you.
Not legal advice. This is a document-preparation tool, not a law firm. Results aren't guaranteed. Verify all info with FMCSA and consult an attorney for legal questions.