Acts of Parliament To Assist Small Companies Pursue Debt Collection With Large Companies, Does It Justify A Legal Practice To Implement The Acts of Parliament?
There is an Act in place in the form of the “Late Payment of Commercial Debts (Interest) Act 2002” that was written to allow options for one organisation to press another organisation which owes them money into settling the invoice. The pressure that can be put on is in two forms, one is a fixed unitary payment and the other is interest on the outstanding debt.
The unitary payment is to compensate for Debt Collection work already executed and is worked out as follows:
For debts less than
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Tags: collection, debt recovery, invoices, overdue, past due
