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Payment Shall Be Made No Earlier Than 30 days

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5 years 6 days ago #1852 by roberthunter
Can anyone kindly advise in the following situation? A contract states "The terms for payment of any invoices issued by the shall not be less than 30 days". What is the maximum period before statutory interest would be payable?

Thank you.

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4 years 10 months ago - 4 years 2 months ago #1868 by Info@specialplasters.co.uk
This clause has no meaning other than you're not going to be paid early. You set the payment terms and if they don't accept it don't supply them. Or ask for confirmation of the MAXIMUM time they will take to pay, after all that's the only thing you are interested in. Having re-read your question it looks like they are asking for your terms and saying they are not to be less than 30 days. So set them at 30 days (or more if you are flush with cash!)

Mark

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