Prejudgment Interest Generally Recoverable Under Odd Facts
Kegler Brown Construction Newsletter February 1, 2001
The object of prejudgment interest is to make the claimant "whole." Contractors recovering on contract claims are entitled to statutory pre-judgment interest at the rate of 10% per annum from the date the money was due, pursuant to O.R.C. §1343.03(A), Royal Elec. Constr. Corp. v. Ohio State Univ. (1995), 73 Ohio St. 3d 110. Courts have held that pre-judgment interest on construction claims should generally run from the date of substantial completion. Complete General Constr. Co. v. ODOT, Case No. 98AP-1619, Franklin County Court of Appeals (unreported, May 25, 2000).