'Get Paid' Terms & Conditions Package launched
By David Tyler. October 2013
Having worked on late payment issues on this website for over 13 years, the one thing that became obvious was how many small business trade without proper Terms & Conditions of payment. In a recent poll on this site, only 30% of responders had terms & conditions of any kind. 20% admitted to downloading from the internet or copying from a friend!
Time and time again I have heard of a debtor disputing a claim for late payment or even disputing paying the full invoice amount citing an issue with the goods or services, delivery, invoice details or any other excuse. They will use those disputes to delay payment and make using solicitors more expensive than what you will get back winning a claim. One particular story involved non payment of nearly £100,000 pounds and £70.000 spent using solicitors to chase that payment. They were never paid as the debtor went into liquidation and the claimant only just survived going the same way.
To fill this vital gap in small business credit management, John Hackwood from termsandconditions.co.uk and I got together to create a package that was affordable, understandable and effective. Firstly we researched what was currently available for small businesses, freelancers and the self employed. This ranged from free or cheap, ineffective, generic terms downloadable from the internet to ridiculously expensive offerings from solicitors. No wonder so many businesses and individuals trade without proper terms of payment and risk losing £1000's when it goes wrong.
The 'Get Paid' Terms & Conditions Package we developed is designed to be your main line of defence against late payers, slow payers and non payers. By clearly stating your payment terms to new and existing clients and getting them to sign them, you are 'putting the fence around the cliff' to stop you from falling into trouble.
The package is not just a A4 sheet printed in tiny unreadable text on the back of an invoice. It is a package that explains each step of the process. What the Terms & Conditions actually are and what they mean, how to implement them and introduce them seamlessly to new and existing clients, then how to use them to 'Get Paid' and avoid spurious excuses and disputes to delay payment.
For under £200 the 'Get Paid' Terms & Conditions Package is your one off payment for an insurance policy giving you peace of mind in the battle against late payment. We are confident our package give you the protection you need and even offer a money back guarantee if you are not happy.
Don't leave it until it's too late because by then it will be 'too late'
Advanced Late Payment Calculator Price Reduction
We have a new pricing structure for our popular Advanced Late Payment Interest calculator. You can now purchase a subscription for 6 months unlimited use for £15.00 or 12 months unlimited for £20.00
Save time and money by not having to revise late payment calculations or create new claims when chasing debtors. The unique advanced calcualtor will do it all for you including re-calculating interest after a part payment or claiming for retrospective debts from late paid invoices.
Designed to help businesses in the battle against late paying customers, the feature rich advanced late payment interest calculator can be used to simply keep an eye on the accruing interest of an unpaid debt, to sending complete pre filled late payment claim letters and follow up letters clearly stating your rights to interest and compensation. Watch the video above for an overview of the calculator features or start using the advanced late payment interest calculator.
How to choose a good debt collection agency (DCA)
Choosing a debt collection agency, or DCA, can be a challenge if you've never had to pursue a debtor for payment before.
You may not be 100% sure of where you stand, legally speaking, or of what a DCA can and cannot realistically achieve for you. By choosing a good debt collection agency, though, you can make sure that your DCA is acting in your best interests - and working to help fill in any gaps in your knowledge, rather than to exploit them.
Changes To The Late Payment Legislation
The late payment of commercial debts regulations 2013 have now been implemented.
Changes to the legislation were tabled at European level which needed to be adopted by England, Wales and Northern Ireland. Consultation ensued and now the existing legislation has been amended. The Late Payment of Commercial Debts Regulations 2013 was introduced on the 16th march 2013