Generate court-tested, legally enforceable late fee clauses, payment milestones, and attorney fee indemnity terms for independent contractor contracts, Master Services Agreements (MSA), and Statements of Work (SOW).
"Payment for all invoices is strictly due within thirty (30) calendar days of invoice date (Net 30). Any balance unpaid after the due date shall accrue a late payment fee at the rate of one and one-half percent (1.5%) per month (18% per annum), or the maximum rate permissible under applicable state law, calculated daily from the due date until full payment is received. Client agrees to indemnify Contractor for all reasonable attorneys’ fees and collection costs incurred in recovering overdue balances."