Our calculator uses the legal late payment rate for each country, based on current legislation:
- EU countries: ECB reference rate + 8 percentage points (or country-specific rate)
- UK: Bank of England base rate + 8 percentage points
- US: Estimated at 18% annually (varies by state)
- Canada: Estimated at 3% monthly (varies by province)
- Australia: Estimated at 10% annually (varies by state)
- Latin America: Country-specific rates (Brazil 12%, Mexico 9%, Argentina 36%, Colombia DTF+6)
- India: 3x RBI repo rate for MSMEs
- UAE: Estimated at 9% annually (varies by contract and free zone)
Fixed compensation (where applicable) is added automatically based on the country:
- EU: €40 per invoice
- UK: £40–£100 depending on invoice size
- Other countries: Varies by law