Late Charges
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Statutes
" A charge or fee assessed under a rent-to-own agreement shall be reasonably related to the actual cost to the merchant of the service or hardship for which it is charged. A merchant may assess only one late fee for each payment regardless of how long the payment remains due. (9 V.S.A. § 41b)
If any progress or final payment to a subcontractor is delayed beyond the due date, the contractor or subcontractor shall pay its subcontractor interest, beginning on the next day, at an interest rate equal to that established by law, on such unpaid balance as may be due. (9 V.S.A. § 4003)"
Cases
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MultiState
The statutory information was edited and reviewed with the support of MultiState
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