Having to chase late payments is sadly an experience most people in business have to go through at one time or another. But knowing when irritating delays have crossed the line into a breakdown in the business relationship can be difficult to fathom.

Cash flow is important, but long-term survival depends on holding on to the clients that you invested in.

Published in Credit Control

Formula 1 tyre supplier Pirelli took a hard line in Hungary by invoking a prompt payment policy that left Lotus with no tyres as the first practice session approached on the Friday.

Payments are due on a quarterly basis and, according to reports in the Telegraph and other national newspapers, Lotus owed about £350,000 for three months' worth of wheels.

Published in Credit Control