Payment Terms

[Highland Forestry]

I was hearing yesterday that there has been an EU Directive for some 15 years which states that small businesses should be paid by larger companies within two weeks of invoice date...

 

Can anyone clarify if this is correct?

 

Having searched Google all I could find was the normal 30-day payment directives although having spoken to some friends apparently this two week directive does exist..

 

Has anyone come across this, and if so, any luck implementing it??

[Lorry thompson]

Don't know about that mate it's interesting though because most of ours are 60 days but they do let you know before start for them

[Stephen Blair]

The loudest child gets the most.

[Highland Forestry]

The loudest child gets the most.

 

We're all like little birds chirping in the nest!!

[Stephen Blair]

but if muma birdy only has 1 worm and there are lots of little chicks, who gets the worm?

[geoff]

but if muma birdy only has 1 worm and there are lots of little chicks, who gets the worm?

 

Probably the big bully cukoo.

[AA Teccie (Paul)]

I was hearing yesterday that there has been an EU Directive for some 15 years which states that small businesses should be paid by larger companies within two weeks of invoice date...

 

Can anyone clarify if this is correct?

 

Having searched Google all I could find was the normal 30-day payment directives although having spoken to some friends apparently this two week directive does exist..

 

Has anyone come across this, and if so, any luck implementing it??

 

Sorry, no definitive response here but I do recall a previous directive from central government to local government to pay invoices to small contractors in particular quicker, i.e. 30 days I think was the recommendation.

 

I recall it as we used it as a prompt to make interim monthly payments fro longerterm contract works, i.e. 3-6 months.

 

Not sure of any EU Directive tho.

 

Cheers..

Paul

[TREE-SURGEON-ESSEX]

You can always tell the. Your terms are 14days or interest charged not sure if it will work but ive always been paid on time

[combined tree services]

the goverment did pass a ruling that all LA's were to pay their smaller contractors within 15 days , also many of the companies that i have done work for a doing the same , i have made my terms 15 days for all customers - if your invoice clearly states 15 days and the company you invoice proceses the invoice they are basicly accepting your terms .

 

hope that this may of be some use

[Mesterh]

the goverment did pass a ruling that all LA's were to pay their smaller contractors within 15 days , also many of the companies that i have done work for a doing the same , i have made my terms 15 days for all customers - if your invoice clearly states 15 days and the company you invoice proceses the invoice they are basicly accepting your terms .

 

hope that this may of be some use

 

I think it has to be in your T&C attached with your quote rather than the invoice.

 

Otherwise people could change the payment requirements at invoice.