Reasons for non payment.

[Starscream]

Doesn't really solve the matter does it. The moral argument might appear to be made but it hasn't been won. The printer has spent time and money going for the meal, perhaps not particularly wanted and the money hasn't been through the business so his figures are down and so on...

 

Likewise the second printer; done the work, destroyed it to make a point, still down in net terms.

 

But up on kudos? would be a nice luxury to be able to choose only the best customers, but perhaps things like this just need to be factored in to projections. Just like retail stores have a percentage allowance for theft. They know it's going to happen, all they can do is try and minimise it.

[openspaceman]

It has to be reasonable and 10% per day isn't.

I looked into this when I had a problem 3 years back.

I'm sure it was along the lines of Bank of England base rate plus 4%

 

It's better to quote a commercial bank's base rate +?%

[Richard 1234]

It's better to quote a commercial bank's base rate +?%

 

 

I don't think that's allowed I found some stuff on trading standards website I think it was.

It's very weighted in the customers favour or it was when I looked into it some time ago

[danroker1987]

Never had this problem before so count myself lucky but got my first non payer. Sent several reminders by email, post and phone messages. Not had any form of reply to anything but know they are still about due to facebook posts. Would like to think there is some innocent reason as we have have always got on but it don't look good.

 

Any wise words before I unleash my legally trained mrs on them?

 

use there house as your new tip,until the balance is settled

[Justme]

I find that very difficult do believe, please give some evidence for this, sounds like nonsense to me.

 

I think it was actually on this site that I read it (might have been the welding site as they seem to have the same payment problems). Sure that someone was having trouble getting paid & the guilty party was using that as a reason to not pay.

 

I have been googling & most of the info is not from the UK.

 

It does seem that in the UK after 30 days you can charge interest even if not in the T&C's unless the terms for payment were longer.

 

A good tip I have picked up is to actually specify a date that the payment is due rather than on receipt or in 30 days. Even if its the same day for some reason people pay on time that way.

[bggc]

Doesn't really solve the matter does it. The moral argument might appear to be made but it hasn't been won. The printer has spent time and money going for the meal, perhaps not particularly wanted and the money hasn't been through the business so his figures are down and so on...

 

Likewise the second printer; done the work, destroyed it to make a point, still down in net terms.

 

I think in the grand scheme of things these two orders were relatively small so the stakes weren't that high, from a business point I agree with you but knowing these two wealthy guys it wouldn't have mattered a jot.

[openspaceman]

I don't think that's allowed I found some stuff on trading standards website I think it was.

It's very weighted in the customers favour or it was when I looked into it some time ago

 

Try and give me a link or cite.

 

The reason I posted to use the base rate of a commercial bank was that a year ago I was involved in setting a new commercial lease for a large civils company regional depot. Our solicitor used a standard lease from the law society and this specified barclays base rate +3% for late payments or disputes. The owner of the tenant company asked for Bank of England rates plus 3% but it was rejected. The reason for the Law society choosing Barclays rate was that Barclays is their bank, in the event of a dispute Barclays would affirm the rate at court, either by attending or by a sworn oath, Bank of England could not be called to do so.

[Richard 1234]

Try and give me a link or cite.

 

 

 

The reason I posted to use the base rate of a commercial bank was that a year ago I was involved in setting a new commercial lease for a large civils company regional depot. Our solicitor used a standard lease from the law society and this specified barclays base rate +3% for late payments or disputes. The owner of the tenant company asked for Bank of England rates plus 3% but it was rejected. The reason for the Law society choosing Barclays rate was that Barclays is their bank, in the event of a dispute Barclays would affirm the rate at court, either by attending or by a sworn oath, Bank of England could not be called to do so.

 

 

I'll try and find it it was 3 or so years back. I was thinking of taking someone to court over £150 but could not be bothered with the hassle!

I just warned all the other tradesmen I know to steer clear!

[Richard 1234]

https://www.gov.uk/late-commercial-payments-interest-debt-recovery/charging-interest-commercial-debt

 

It seems if a different is written in its OK if reasonable.

Otherwise b of e base plus 8%

This applies to business to business.

I'll try and find the rules on business to private individual

[openspaceman]

https://www.gov.uk/late-commercial-payments-interest-debt-recovery/charging-interest-commercial-debt

 

It seems if a different is written in its OK if reasonable.

Otherwise b of e base plus 8%

This applies to business to business.

I'll try and find the rules on business to private individual

 

Interesting, I wasn't aware that has applied to all businesses since 2002, in the past it was only large firms. Also the revision is since September 2013 and is for 30 or 60 days after the invoice is submitted, but longer terms can be written into the contract if it is reasonable to both parties.

 

In practice large firms do not accept an invoice until they have signed off the work so they still pay on 90 days.

 

More to the point has anyone succeeded in getting paid interest using this legislation?