Florida Statutes 218.75 – Mandatory interest
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 218.75
- Construction services: means all labor, services, and materials provided in connection with the construction, alteration, repair, demolition, reconstruction, or other improvements to real property. See Florida Statutes 218.72
- Contract: A legal written agreement that becomes binding when signed.
- Local governmental entity: means a county or municipal government, school board, school district, authority, special taxing district, other political subdivision, or any office, board, bureau, commission, department, branch, division, or institution thereof. See Florida Statutes 218.72
- Vendor: means any person who sells goods or services, sells or leases personal property, or leases real property directly to a local governmental entity. See Florida Statutes 218.72
No contract between a local governmental entity and a vendor or a provider of construction services shall prohibit the collection of late payment interest charges allowable under this part.