Re: FN-FORUM Late Payers

date posted 1st November 2000 23:23

A few weeks ago there was a thread about late payments. As of today if you
run a small business and you are owed money by another small business, under
the second phase of the Late Payment Act you will now be able to effectively
fine them. The Late Payment Act gives small businesses the right to claim
interest on outstanding debts at 8% above the base rate, which would mean
14% at the moment.