late payments

Hello Michael
The calculator will send a copy to the email address in the send field (the debtors email) and a copy to you. It has not failed so far but of course the debtor can deny ever receiving an email. I would recommend that you also print out a copy and send that to the debtor as well. Follow ups can be done by email to remind them that they still owe you the money and that the amount of interest owed has increased.
As each day passes daily interest is added saving you time by not having to recalculate.
To print out a late payment claim:
Log in and click on calculator history
Click view next to your claim. The claim will be updated to today's date and the current interest owed.
Click on print or copy and paste the claim into your preferred software such as word if you want to modify the layout.
I hope that helps

David

Hello Phil

I hope I'm understanding your question correctly. Please let me know if not!

If your agreed terms of payment are are 30 days after the provision of services or goods, then interest and compensation can be charged after that date. There isn't another 30 days added to your existing terms if that is what you are saying.

It is possible for businesses to agree a payment period outside of the default 30 days. And that could be 60 days. However both parties have to agree to that. Unless you are given no choice if you want the business but that is meant to be unfair and can be challenged in the courts. I don't think I have ever heard of a case of that kind!

It is also possible to mutually agree a period of verification or acceptance of the good and services. That period can also be up to 30 days!

So there is plenty of scope for businesses to stretch their suppliers payment times...

However if you have good terms and conditions in place then you are in a stronger position to ensure you get paid on time.

Regards

David