Interest on Payment to Contractor
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Question
I did work for a contractor and delayed payment, and now, according to the contract, I have to pay more. Is there a prohibition of interest (ribit) in this?
Answer
If the contract states that it was made according to the heter iska, it is permitted to pay. If not, there is no permission to pay. [However, another person can pay the contractor, provided that he does not agree with the debtor to return what he paid for him].
Source
Yoreh De'ah, Siman 176
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