Late Payment of Commercial Debts
With so many business going under you can’t beat about the bush when getting paid invoices. The Late Payment of Commercial Debts (Interest) Act 1998 allows you to act the very day after an invoice has been paid late, you can claim a recovery free along with interest for each day the payment is late. I have wrote a huge big article on what Scottish Companies can do to recover money but the legislation is the same in England and Wales so it’s well worth a read.
Some companies act like it’s a privilege for them to pay an invoice on time, while mistakes can happen, being a constant offender of not paying invoice on time should not be tolerated and you have to use the law to send the message home to these dodgers of payments that your not going to be walked over, they will soon listen up and start paying on time.