New Jersey Administrative Code
Title 7 - ENVIRONMENTAL PROTECTION
Chapter 11 - NEW JERSEY WATER SUPPLY AUTHORITY
Subchapter 2 - SCHEDULE OF RATES, CHARGES AND DEBT SERVICE ASSESSMENTS FOR THE SALE OF WATER FROM THE RARITAN BASIN SYSTEM
Section 7:11-2.19 - Late payment interest charge

Payments are due within 30 days of the billing date. All payments for service which are not made by the due date therefore and any other sums required to be paid to the Authority pursuant to a contract shall bear interest at a per annum rate equal to the prime rate, as from time to time established by the bank holding short-term deposits of the Authority as its prime rate (with any changes in such prime rate to be effective on any date that such rate is changed) plus two percent. The late payment charge is to be calculated from the date when the bill is payable until the actual date of payment.