[TheOtherHobbes]

The outcome would be entirely random - dependent on the inclination of the judges.

A sensible business would settle out of court with a very low offer. A sensible contractor would accept the offer.

But generally this is another example of corporate privilege.

In reality, late payments kill many small businesses. In a political system that was genuinely friendly to the small guy, fines for late payment would be mandatory.

[koolba]

All my contracts that include such an interest clause also include language to the effect of “the lesser of X or the maximum allowed by law”.