Nebraska late fee law

6%per year

Attaches to the debt by operation of law when you agreed no rate, so it accrues before any lawsuit and can be stated on a demand letter.

Interest on the loan or forbearance of money, goods or things in action is 6% per annum (rate in effect since September 1, 1983) on the unpaid principal balance, unless a greater rate - not exceeding the § 45-101.03 maximum - is contracted for by the parties. Statute text verified in the Nebraska Department of Banking & Finance's official compilation (ndbf.nebraska.gov) and corroborated by FindLaw/Justia; nebraskalegislature.gov itself was unreachable from this environment.

General maximum agreed rate is 16% per annum on the unpaid principal balance (§ 45-101.03, verified in the official NDBF compilation). § 45-101.04 removes that cap for, among others: loans made to any corporation, partnership, LLC, or trust (and their guarantors/sureties), loans where the aggregate principal indebtedness is $25,000 or more, and loans by licensed/regulated lenders - so most B2B credit is exempt from the 16% cap. Note § 45-101.02 defines 'interest' to exclude 'loan service costs,' which expressly include delinquency charges.

public+private-construction

State agencies: Prompt Payment Act (§§ 81-2401 to 81-2408) - payment due within 45 days of the invoice or the goods/services (whichever is later); unpaid creditors may charge interest at the § 45-104.02 rate (a variable rate: the federal government's average short-term borrowing rate for July of the previous year, rounded, plus 3 percentage points, redetermined every other year; 14% before 1993), accruing from the 31st day. Construction: Nebraska Construction Prompt Pay Act (§§ 45-1201 to 45-1211) covers both public and private construction - owner must pay within 30 days of a payment request, subs within 10 days of the prime's receipt; late amounts bear interest of 1% per month per corroborated secondary sources.

Distinctive point: § 45-101.02 classifies delinquency charges as 'loan service costs,' not 'interest,' for usury purposes (verified in the official NDBF compilation), and the 16% cap does not apply to entity borrowers or $25k+ indebtedness anyway (§ 45-101.04). Flat late fees on commercial invoices otherwise follow the ordinary reasonableness/liquidated-damages doctrine.