Late Payment Fee

Apparently Direct Route are also telling some of their clients that they can’t charge the Late Payment charges unless they’ve informed their customers in advance. This is quite simply untrue.

It’s sensible though, for the avoidance of future problems, to add the standard notice to each invoice: ‘WE UNDERSTAND AND WILL EXERCISE OUR STATUTORY RIGHT TO INTEREST AND COMPENSATION FOR DEBT RECOVERY COSTS UNDER THE LATE PAYMENT LEGISLATION IF WE ARE NOT PAID ACCORDING TO OUR CREDIT TERMS’.
 

Posted under Late Payment

Posted by Alec at 1:32 pm, July 25, 2007

3 Comments so far

  1. Alec added on  July 27th, 2007 at 14:10

    Ditto. Maybe I’ll start paying people late and spend the money on a flash car instead.

  2. Alec added on  July 27th, 2007 at 14:36

    I wasn’t responding to you Dave, I was just agreeing with Mark over his working full time with a 6 year old Zafira comment.

    Gill’s point was that owner-drivers work hard and pay all their costs up front. If the owner of a company can afford to pay someone to manage the company while he spends all day on the golf course and can afford to drive around in a flashy motor then the company can afford to pay its bills on time. If it can’t pay its bills on time then the fat-cat owner is spending money that’s owed to his suppliers.

    If I delayed all our supplier payments by 30 days I could pay cash for a new Jag and join the fat-cat late-payers club.

  3. Alec added on  July 27th, 2007 at 14:52

    I’ve never been one for flash cars Dave, I’d never get chance to drive the bloody thing anyway.

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