Updated October 28, 2016. Exterior walls can be finished with a wide array of materials and techniques. Exterior wall finishes can produce significant savings for the contractor as well as for the building occupant and there are many options that will protect you from fire, heat, snow and that can save some money to you.
When Is Penalty Interest Payable? Penalty interest is payable when money is due, but is not paid by the due date. This means that late payment of deposit or late payment of the balance of the purchase price at settlement will usually give rise to an obligation to pay penalty interest.
For example, if you owe $1,000 in back taxes, you may owe a penalty of $5 for every month your payment is late. This is in addition to interest. The IRS sometimes forgives or abates a penalty if you can show good cause for paying less than the required amount or paying late. You will still owe interest, however.