Nevada late fee law

Set by formula or published periodically rather than fixed in statute, so it must be looked up for the period in question.

Formula-based, no fixed number. When no express written contract fixes a different rate, interest accrues at the prime rate at the largest bank in Nevada (as ascertained by the Commissioner of Financial Institutions on the January 1 or July 1 immediately preceding the transaction) plus 2 percent, adjusted each January 1 and July 1 until the judgment is satisfied. Applies to money due on contracts (express or implied), on book/store accounts from the day the balance is ascertained, money received to another's use and detained without consent, and unpaid wages after demand. The Commissioner publishes the operative prime figure semiannually.

Parties may agree in writing to essentially any rate: NRS 99.050(1) provides that parties 'may agree for the payment of any rate of interest on money due or to become due' - Nevada has no general civil usury ceiling for commercial/B2B transactions. Verified exception: consumer credit to covered military service members/dependents is capped at 36% APR (NRS 99.050(2)). Overdue construction payments have their own statutory floor (NRS 624.630).

public+private-construction

Private construction (NRS 624.609–624.630): overdue amounts accrue interest at the higher of the rate agreed in the construction agreement or the Nevada prime rate plus 4%, from due date until paid; retainage capped at 5% for contracts entered on/after 2016. Public works (NRS 338.515 et seq.): public body must pay progress bills within ~30 days, 5% retainage rules, and interest accrues on retained/late amounts from withholding until payment. No prompt-payment statute found for ordinary (non-construction) private commercial invoices.

No Nevada statute specifically governing flat late fees on ordinary commercial invoices was found; default rule is that agreed late fees are enforceable if reasonable under liquidated-damages/penalty doctrine. Because NRS 99.050 permits any agreed rate, agreed finance charges on B2B trade credit face little usury risk. In construction, the NRS 624.630 interest regime (higher of contract rate or prime+4%) sets the statutory baseline.