Life Under the Late Payment of Commercial Debts Regulations 2013

The Late Payments Directive, known more technically as Directive 2011/7/EU or the Late Payment of Commercial Debts Regulations 2013, came into force on March 16th and should mean better protection for businesses of all sizes - from freelancers to big brands, and including the public sector - when chasing late payments.

Generally speaking, the Directive puts 30-day payment terms on contracts where a longer deadline is not mutually agreed, and allows you to charge fixed fees, statutory interest, and reasonable recovery costs on any action you take after that deadline has passed.

The Kernel's Secret Recipe for Unpaid Invoices

Take one technology, media and politics website. Add a 28-year-old online entrepreneur who used to be called Milo Wagner, but is now called Milo Yiannopoulos. Don't add any paid invoices to freelance contributors - these could leave a sour taste in the mouth. Finish with an unpaid editor and a legal claim for £16,853.

You've got The Kernel's secret recipe, and it's one that's been stewing for some time. Contributors have reportedly been disputing payments for several months, and an estimated £10,000 or more is still owed to past writers and in copyright claims to photographers whose works were allegedly used without permission.

Making Not-So-Small Claims for Late Payment

When late payment goes beyond the limits of amicable pursuit, and it becomes apparent that the funds will never be willingly forthcoming, the remaining option is to go to court, in order to force the debtor to pay.

Depending on how much you are owed, you may be able to do this in small claims court, or you might have to launch more formal legal proceedings, which are likely to prove more expensive.

Late Payment Battle Lines Drawn, Reports Telegraph

The Daily and Sunday Telegraph have launched a series of articles reporting on late payments - and on the battle lines being drawn by those affected by and involved in settling overdue invoices.

In a Daily Telegraph report, for instance, Steve Sutherland - owner of architectural glazing specialist Dortech - is described as "putting his tin hat on" amid fears of a backlash from customers after he called time on a 13-year relationship with construction brand Balfour Beatty.

The Creditors Guide to Insolvency

Will I get the money my company is owed?

This is the question we hear most often from clients that find they unpaid invoices due from an insolvent business.  This short guide, written by our very own Daryl Bennett, is intended to answer this most important question.

But to answer this question first we need to understand exactly what is meant by the term insolvency, Sid Home our resident Credit Management expert explains.

£4.7bn of Unpaid Invoices in the UK Uncollectable Due to Insolvency

Insolvency turns £4.7bn of non-payers into never-payers

Each year, £4.7 billion of unpaid invoices in the UK are simply wiped away by insolvency and winding-up procedures, according to an Experian report.

From the smallest 'micro firms' to the biggest brands, when a company leaves the market completely by going out of business, the rest of the supply chain is likely to feel at least some impact not just in terms of lost custom, but by going unpaid for work already done.

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