CFR > Title 37 - Patents, Trademarks, and Copyrights > CHAPTER III—COPYRIGHT ROYALTY BOARD, LIBRARY OF CONGRESS > SUBCHAPTER E—RATES AND TERMS FOR STATUTORY LICENSES (parts 380 to 386) > PART 385—RATES AND TERMS FOR USE OF MUSICAL WORKS UNDER COMPULSORY LICENSE FOR MAKING AND DISTRIBUTING OF PHYSICAL AND DIGITAL PHONORECORDS > SUBPART A—Physical Phonorecord Deliveries, Permanent Digital Downloads and Ringtones (§385.1 to §385.4) > 385.4—Late payments.

385.4—Late payments.

A Licensee shall pay a late fee of 1.5% per month, or the highest lawful rate, whichever is lower, for any payment received by the Copyright Owner after the due date set forth in ( 201.19(e)(7)(i) of this title. Late fees shall accrue from the due date until payment is received by the Copyright Owner.