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Compensation payment for part paid invoice

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8 years 1 month ago #1989 by 05surveyor
Compensation payment for part paid invoice was created by 05surveyor
Your FAQs mention that daily interest on a part paid invoice is calculated on the total amount of the original invoice, not on the outstanding amount. What about the compensation payment? Is that calculated on the original invoice anount or on the outstanding amount?

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8 years 1 month ago - 8 years 1 month ago #1995 by james@cpa.co.uk
Replied by james@cpa.co.uk on topic Re: Compensation payment for part paid invoice
Hi there,

The compensation is calculated on the original debt value, not the outstanding balance.

even if only £5 was left unpaid, you would be entitled to the full compensation.

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8 years 1 month ago #1996 by 05surveyor
Replied by 05surveyor on topic Re: Compensation payment for part paid invoice
Thank you. I hope I don't have to use this, but it could be a useful stick to threaten with.

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