Review:
Late Fees
overall review score: 2
⭐⭐
score is between 0 and 5
Late-fees are charges imposed on individuals who fail to return borrowed items by their due date.
Key Features
- Penalizes late returns
- Can accrue over time
- Can vary in amount depending on the item and duration of lateness
Pros
- Incentivizes timely returns
- Provides revenue for businesses or institutions
Cons
- Can be perceived as punitive
- May disproportionately affect low-income individuals