terms and conditions

Hello GC Plumbing. Have a look at our FAQ page and you will get most of the answers you require.

payontime.co.uk/late-payment-legislation-frequently-asked-questions

You do not have to mention that you will charge late payment interest and compensation or mention it in any terms (if you have some). This is because this is statute legislation.

If a payment date has not been mutually agreed in advance (say 20 days) then their legislation uses a default of 30 days from delivery of goods or services, or receipt of invoice.

You can go back 6 years retrospectively and charge interest and compensation on any invoices that have been paid, but were paid late.

Best regards

David