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Interest on unpaid invoices in Maine: a floating rate if no rate was agreed; the most you can set depends on the deal

By Yossi Grunwald, founder of Workeey · Updated

In Maine, a floating rate if no rate was agreed; the most you can set depends on the deal. Read from Maine's own statutes, agencies and courts, checked November 6, 2026, with every answer quoted below, and a late fee calculator.

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Maine's rate when no rate was agreed

What the text says: One-year U.S. Treasury bill rate + 3% (prejudgment); a contract's own interest provision governs where there is one. 14 M.R.S. §1602-B. In small claims, prejudgment interest is recoverable only if based on a contract or note.

How the rate moves: Prejudgment interest is allowed at the one-year United States Treasury bill rate plus 3%: 6.51% if the complaint is filed in 2026.

  • “In civil actions other than those set forth in subsections 1 and 2, prejudgment interest is allowed at the one-year United States Treasury bill rate plus 3%.” — 14 M.R.S. §1602-B(3), read November 6, 2026
  • “In all civil and small claims actions involving a contract or note that contains a provision relating to interest, prejudgment interest is allowed at the rate set forth in the contract or note.” — 14 M.R.S. §1602-B(2), read November 6, 2026
  • “In small claims actions, prejudgment interest is not recoverable unless the rate of interest is based on a contract or note.” — 14 M.R.S. §1602-B(1), read November 6, 2026
  • “If complaint filed or notice of claim served in the following year Then Pre-Judgment Interest is 2026 6.51 %” — Maine Judicial Branch, 2026 Pre-Judgment Interest Rate Charts (form OTH-155), 14 M.R.S. §1602-B, read November 6, 2026

The most you can set in Maine

For a homeowner: It depends: see 9-A M.R.S. §2-201. Applies to a 'consumer credit sale' (9-A §1-301(11)): goods or services to a non-organization for personal/household purpose, credit granted by a seller who regularly extends credit of that kind, and the debt payable in installments or a finance charge made.

For a business customer: Not checked.

  • “With respect to a consumer credit sale, other than a sale pursuant to open-end credit, a seller may contract for and receive a finance charge not exceeding that permitted by this section.” — 9-A M.R.S. §2-201(1), read November 6, 2026
  • “18% per year on the unpaid balances of the amount financed.” — 9-A M.R.S. §2-201(2)(B), read November 6, 2026
  • “a sale of goods, services or an interest in land in which: (1) Credit is granted either pursuant to a credit card other than a lender credit card or by a seller who regularly engages as a seller in credit transactions of the same kind; (2) The buyer is a person other than an organization; (3) The goods, services or interest in land are purchased primarily for a personal, family or household purpose; (4) Either the debt is payable in installments or a finance charge is made;” — 9-A M.R.S. §1-301(11)(A), read November 6, 2026
  • “The maximum legal rate of interest on a loan made by a financial institution, in the absence of an agreement in writing establishing a different rate, shall be 6 percent per year.” — 9-B M.R.S. §432(1), read November 6, 2026

Late fees in Maine

What the text says: Consumer credit transactions / open-end plans: a contracted delinquency charge on an installment not paid in full within 15 days — the greater of 5% of the unpaid installment (max $10) or the permitted deferral charge. Consumer credit transactions and open-end credit plans under the Maine Consumer Credit Code (9-A). It depends: see 9-A M.R.S. §2-502. Applies only where the homeowner job is a consumer credit sale (installments or a finance charge).

  • “A creditor may contract for and receive a delinquency charge on any outstanding, unpaid installment payment or portion of such payment due under a consumer credit transaction or open-end credit plan not paid in full within 15 days after its scheduled or deferred due date in an amount not exceeding the greater of: A. An amount, not exceeding $10, that is 5% of the unpaid amount of the installment; or” — 9-A M.R.S. §2-502(1), read November 6, 2026

Does Maine want it agreed in advance?

Agreed in advance: Maine's text read does not say so in general. Consumer delinquency charges are what a creditor 'may contract for' (9-A §2-502), and a contract's interest term governs prejudgment interest (14 §1602-B(2)).

  • “A creditor may contract for and receive a delinquency charge” — 9-A M.R.S. §2-502(1), read November 6, 2026

Homeowners and businesses in Maine

Homeowner on a consumer credit sale: Consumer Credit Code caps (9-A §2-201 finance charge, §2-502 delinquency charge, 15-day grace). 9-B §432(2): the legal rate on a noncommercial or consumer loan is set by and subject to Title 9-A.

  • “The legal rate of interest, whether set forth in writing or not, on a noncommercial or consumer loan, shall be established in accordance with and subject to the limitations set forth in Title 9-A.” — 9-B M.R.S. §432(2)(A), read November 6, 2026

Prompt payment on private construction in Maine

What the text says: Owner pays 20 days after the end of the billing period or delivery of the invoice (whichever later); a court/arbitrator also awards a 1%-per-month penalty on sums wrongfully withheld. Any construction contract for work on real property, written or oral (10 M.R.S. §1111). 10 M.R.S. §§1111-1118.

  • “If any progress or final payment to a contractor is delayed beyond the due date established in subsection 3, the owner shall pay the contractor interest on any unpaid balance due beginning on the 21st day, at an interest rate equal to that specified in Title 14, section 1602‑C.” — 10 M.R.S. §1113, read November 6, 2026
  • “Payment of interim and final invoices is due from the owner 20 days after the end of the billing period or 20 days after delivery of the invoice, whichever is later.” — 10 M.R.S. §1113, read November 6, 2026
  • “If any progress or final payment to a subcontractor or material supplier is delayed beyond the due date established in subsection 2 or 3, the contractor or subcontractor shall pay its subcontractor or material supplier interest on any unpaid balance due beginning on the next day, at an interest rate equal to that specified in Title 14, section 1602‑C.” — 10 M.R.S. §1114(4), read November 6, 2026
  • “the arbitrator or court shall award an amount equal to 1% per month of all sums for which payment has wrongfully been withheld, in addition to all other damages due and as a penalty.” — 10 M.R.S. §1118(2), read November 6, 2026
  • “any agreement, whether written or oral, to perform or to supply materials for work on any real property.” — 10 M.R.S. §1111, read November 6, 2026
  • “the one-year United States Treasury bill rate plus 6%” — 14 M.R.S. §1602-C(1)(B), read November 6, 2026
  • “Year Judgment Entered Post-Judgment Interest Rate 2026 9.51%” — Maine Judicial Branch, 2026 Post-Judgment Interest Rate Chart (form OTH-156), 14 M.R.S. §1602-C, read November 6, 2026

Work out a late charge in Maine

Set your own rate.

Days since the due date
The rate or fee your terms set

— late charge

Days late
—
New total
—

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What was not checked for Maine

  • No general Maine limit on the rate for a business customer was found, so none is given here.

Check Maine's own text

Before you charge: read 14 M.R.S. §1602-B(3) and the other Maine texts quoted on this page, or ask a lawyer. As of November 6, 2026.

This is a plain-words summary of each state's own laws as of November 6, 2026, not legal advice. Rules have exceptions. Check the state's own text, linked on every state's page, or a lawyer before you charge a late fee or interest.

Compare Maine with every state's answer, or with its neighbours just below.

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