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Interest & Compensation timescale

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6 years 8 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

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6 years 7 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.

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