Adding Interest To Late Invoice

Question: Is there a Michigan Law that says if you are a sub-contractor and you send an invoice, that after 30 days and still no payment you can add a 1.5 percent interest charge on the next invoice you send out? If so can you please send me some information on it as soon as possible? Thank you very much.

Answer: There is no such law. You need to fix your invoices so that they clearly state that interest is charged if the payment is not made. We represent a number of contractors and subs and prepare Construction Contracts. If you need your invoice and proposal rewritten so that you can charge interest, collect attorney's fees in the event of a dispute and protect yourself from unfounded claims, we can help draft proposal and invoice forms. Let us know if we can help.