This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Cost Of Delay in Ohio

In Ohio, the statutory interest rate on a civil money judgment is 8% per year, as set by Ohio Revised Code § 1343.03. This rate applies from the date the judgment is entered until it is paid in full. The statute does not specify a variable rate tied to market conditions; the fixed 8% figure is the default unless a contract between the parties provides a different rate. The law governs prejudgment interest in some cases as well, though the rule sets out conditions that must be met. For the precise calculation method and any applicable exceptions, refer to the official source at http://codes.ohio.gov/orc/1343.03. The worked example below demonstrates how the daily accrual is computed, and the calculator can estimate your specific result.

Governing authority

In Ohio, the cost of delay rule is set by OH Rev. Code § 1343.03. The verified packet cites OH Rev. Code § 1343.03 (http://codes.ohio.gov/orc/1343.03).

Ohio cost of delay: the verified value is 8% under OH Rev. Code § 1343.03. The verified packet cites OH Rev. Code § 1343.03 (http://codes.ohio.gov/orc/1343.03).

Estimate your own result: every situation has exceptions that can change the outcome. Use the cost of delay calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.