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 Rhode Island

In Rhode Island, the statutory interest rate on civil money judgments is 12% per year under R.I. Gen. Laws § 9-21-10. This rate applies automatically from the date judgment is entered until the judgment is satisfied. The statute does not allow for discretionary adjustment by the court; the 12% figure is fixed by law. Prejudgment interest may also apply in certain cases, but the post-judgment rate remains constant. The law sets out how the interest accrues on the total award, including costs where applicable. The worked example below demonstrates how the 12% rate is applied over time. For an estimate of interest on a specific judgment, use the DocketMath calculator. The full statutory text is available at the official source linked above.

Governing authority

In Rhode Island, the cost of delay rule is set by R.I. Gen. Laws § 9-21-10. The verified packet cites R.I. Gen. Laws § 9-21-10 (http://webserver.rilegislature.gov/Statutes/TITLE9/9-21/9-21-10.htm).

Rhode Island cost of delay: the verified value is 12% under R.I. Gen. Laws § 9-21-10. The verified packet cites R.I. Gen. Laws § 9-21-10 (http://webserver.rilegislature.gov/Statutes/TITLE9/9-21/9-21-10.htm).

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.