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MD · SERVICE-AGMT · Updated July 2026 · Free

Maryland Service Agreement

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Maryland at a glance: Usury Cap: 6% default, 8% written (Md. Code Com. Law § 12-102) · Governing Law: Maryland Commercial Law

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Overview

Service Agreements in Maryland

Maryland service agreements are governed by Commercial Law Title 12. Late payment interest is capped under Maryland usury rules (Md. Code Commercial Law § 12-102).
Key Facts

Maryland Service Agreement — Quick Reference

RequirementMaryland Rule
Usury Cap6% default, 8% written (Md. Code Com. Law § 12-102)
Governing LawMaryland Commercial Law
Legal Requirements

Maryland Legal Requirements

  • Late fees must be written to exceed the 6% default interest limit.
Governing Laws

Maryland Governing Laws

Md. Code Com. Law § 12-102
Legal Rate of Interest
Governs legal interest rates.

Read the full text of these laws at Cornell Law School's Maryland legal resources or your state legislature's official website.

Questions & Answers

Maryland Service Agreement — Frequently Asked Questions

Are B2B contracts exempt from the 8% limit in Maryland?

Yes, commercial transactions are largely exempt from usury caps.