1. Discussions forums
  3. Pay on time supporter forums
  5. Late payment questions and answers
  7. Interest & Compensation timescale
× Post questions here about other issues concerning late payment.

Interest & Compensation timescale

More
6 years 9 months ago #2737 by tomt
Interest & Compensation timescale was created by tomt
Hi all,
I've got my list of late invoices (all now settled), calculated my interest and compensation due, and drafted a letter to go with the breakdown.

Now I just have one question: should I stipulate a timescale on my letter claiming the amount due?

I was thinking of asking for payment 'ASAP' but I'd like to put a timescale on it with a threat to escalate it possibly. (This is a public body that is owing the money).

I'm guessing that if they don't pay within 30 days I've given them a resonable amount of time given that public body debts should be settled within 30 days, so it's a 'fair' and reasonable timescale.

Has anyone any advice?
Thanks
Tom

Please Log in or Create an account to join the conversation.

More
6 years 8 months ago #2778 by j.salmon@cpa.co.uk
Replied by j.salmon@cpa.co.uk on topic Re: Interest & Compensation timescale
While there is no rule, you do need to set out a timeline, stating that if they do not respond within x days then you will escalate the action.

Whether that is 7, 14 or 30 days depends on you.

Please Log in or Create an account to join the conversation.

  1. Discussions forums
  3. Pay on time supporter forums
  5. Late payment questions and answers
  7. Interest & Compensation timescale
Time to create page: 0.140 seconds