EU Late Payment Interest — connector documentation

MCP endpoint: https://eu-late-interest.connectorbay.com/mcp
REST API: POST https://eu-late-interest.connectorbay.com/v1/tools/{tool_name}, described by the OpenAPI 3.1 spec at https://eu-late-interest.connectorbay.com/openapi.json
Transport: Streamable HTTP, stateless, MCP specification 2025-06-18 or later
Authentication: none required. An optional Authorization: Bearer <key> raises rate limits.
Health: https://eu-late-interest.connectorbay.com/health · Tool schemas: https://eu-late-interest.connectorbay.com/tools.json
Publisher: Unify Dynamics LLC · connectorbay.com/eu-late-interest · agent@connectorbay.com

What EU Late Payment Interest is for

EU Late Payment Interest applies the EU minimum rules of Directive 2011/7/EU to an overdue business invoice. statutory_rate gives the half-year rate: the ECB main refinancing operations rate in force on 1 January or 1 July plus 8 percentage points (H2 2026: 2.40% + 8 = 10.40%). list_rate_history lists every half-year since H2 2023 with the ECB decision behind it. compute_late_interest adds simple interest day by day (actual/365) across half-year boundaries. fixed_recovery_fee returns the EUR 40 minimum. payment_due_date applies the contract date or the 30-day default from invoice, goods or acceptance dates, and term_check tests an agreed term against the 60-day (business) and 30-day (public authority) limits. revision_status states honestly where the proposed Late Payment Regulation (COM(2023) 533) stands: proposed, not adopted. draft_reminder builds a reminder for the owner to review; nothing is sent. This is the EU minimum only: Member States may set higher interest or compensation and different day counts, and non-euro Member States use their own central bank's rate. Every rate and rule names its source, as_of date and verification level. Read-only; nothing is stored.

Ask your assistant things like:

"What is the EU minimum statutory late-payment interest rate for the second half of 2026?"
"A customer owes EUR 10,000 due on 15 May 2026. What interest has built up to 29 September 2026 on the EU minimum basis?"
"Is a 90-day payment term in a B2B contract allowed under the EU Late Payment Directive?"
"When does an invoice received on 3 March and goods received on 10 March with no agreed date become late?"
"Has the EU adopted the new Late Payment Regulation yet, and what is the fixed compensation today?"
"Draft a payment reminder for invoice 2026-118 that cites the EU-minimum interest and fixed sum"

What it does

statutory_rate: EU-minimum statutory late-payment rate for a half-year: ECB main refinancing rate on 1 January or 1 July plus 8 percentage points.
list_rate_history: Half-year reference rates since H2 2023 with the ECB decision behind each, and the ECB rate changes.
compute_late_interest: Simple late-payment interest on a principal from the day after the due date to a payment or claim date, half-year by half-year at the EU-minimum rate.
fixed_recovery_fee: The EUR 40 minimum fixed compensation under Article 6 and the limits of what the EU minimum says.
payment_due_date: Due date from a contract date or term, or the 30-day default from invoice receipt, goods receipt or acceptance, with term-limit flags.
term_check: Test an agreed payment term in calendar days against the 60-day business and 30-day public-authority limits.
revision_status: Where the proposed Late Payment Regulation (COM(2023) 533) stands, and that Directive 2011/7/EU remains the rule in force.
draft_reminder: Draft payment reminder citing the EU-minimum interest and fixed sum, for the owner to review; never sent.

Data sources

Reference data from official sources (ecb.europa.eu, eur-lex.europa.eu, oeil.europarl.europa.eu); every answer states its source, date and validity period.

What it is not

EU Late Payment Interest is independent; not affiliated with, endorsed by or operated by any government body, central bank, standards body or scheme operator. Names of rails, schemes and standards are used only to say what a tool works with. It is read-only: it never sends, pays, files or signs anything for you, and it never looks up private individuals.

Not advice. General information only, not legal, tax, accounting or payment advice. EU Late Payment Interest is an independent tool: it is not affiliated with, endorsed by or operated by any government body, central bank, standards body or scheme operator. Rates, thresholds and rules change; check the cited official source and confirm with a qualified professional before you rely on a result.

Built for: European Union. Languages: English.

Tools

Look up & validate

list_rate_history — Half-year EU-minimum rates since H2 2023 with the ECB decision behind each, and the ECB rate changes in the table. Use for "List the EU statutory late-payment rate for each half-year since 2023". Args: from_year, on_date.

Calculate

compute_late_interest — Simple late-payment interest on a principal from the day after the due date to a payment or claim date, half-year by half-year at the EU-minimum rate, actual/365. Use for "A customer owes EUR 10,000 due on 15 May 2026: what interest has built up to 29 September 2026 on the EU minimum basis?". Args: principal, due_date, paid_or_claim_date.

Build & format

draft_reminder — Draft payment reminder citing the EU-minimum interest and the EUR 40 fixed sum, for the owner to review; it is never sent. Use for "Draft a payment reminder for invoice 2026-118 that cites the EU-minimum interest and fixed sum". Args: supplier_name, customer_name, invoice_reference, principal, due_date, letter_date, days_to_pay.

Reference & guides

statutory_rate — EU-minimum statutory late-payment rate for a half-year: the ECB main refinancing rate in force on 1 January or 1 July plus 8 percentage points (Directive 2011/7/EU). Use for "What is the EU minimum statutory late-payment interest rate for the second half of 2026?". Args: half_year, on_date.

fixed_recovery_fee — The EUR 40 minimum fixed compensation for recovery costs under Article 6 of Directive 2011/7/EU and the limits of what the EU minimum says. Use for "What is the fixed compensation for a late B2B payment in the EU?".

payment_due_date — Due date from a contract date or term, or the 30-calendar-day default from invoice receipt, goods receipt or acceptance, with 60-day (business) and 30-day (public authority) term flags. Use for "When does an invoice received on 3 March and goods received on 10 March with no agreed date become late?". Args: invoice_received_date, goods_received_date, acceptance_date, agreed_payment_date, agreed_term_days, term_starts_on, debtor_type.

term_check — Test an agreed payment term in calendar days against the 60-day business and 30-day public-authority limits of Directive 2011/7/EU. Use for "Is a 90-day payment term in a B2B contract allowed under the EU Late Payment Directive?". Args: term_days, debtor_type.

revision_status — Where the proposed Late Payment Regulation (COM(2023) 533) stands, and that Directive 2011/7/EU remains the rule in force. Use for "Has the EU adopted the new Late Payment Regulation yet?".

Conventions

Read-only. Every tool reads public data or computes; nothing is written anywhere and nothing about the user is stored.
Result envelope. ok: true with data, or ok: false with a structured error (bad_input, not_found, upstream_error). degraded lists optional sources that were unreachable.
Rate limits. Free tier 60 tool calls/minute and 300/day per user (keyed on the user identifier supplied by the host agent, else client IP); Pro keys raise this. Over-limit calls return HTTP 429 with Retry-After. initialize and tools/list are never counted.

Support

agent@connectorbay.com · connectorbay.com/eu-late-interest/support