This probably varies from state to state. Does anybody who does IT contracting work in Maryland understand the best way to legally put a late payment clause in their contract? Net 15 / Net 30 ? .. charging how much interest per month / year? Flat fee? How is this worded in the contract?
How does this change if I am doing business with a company outside of Maryland?
Related side question:
I am using a standard Maryland consulting agreement that I downloaded from lawdepot.com
If I want to do business with a company in another state, do I need to use a consulting agreement from that state or will the Maryland one I have suffice?