Late Commercial Payments

Late Commercial Payments: Charging Interest and Debt Recovery

When a Payment Becomes Late

You can claim interest and debt recovery costs if another business is late paying for goods or a service.
 
If you agree a payment date, it must usually be within 30 days for public authorities or 60 days for business transactions.
 
You can agree a longer period than 60 days for business transactions - but it must be fair to both businesses.
 
If you do not agree a payment date, the law says the payment is late 30 days after either:
  • the customer gets the invoice
  • you deliver the goods or provide the service (if this is later)

See Also:

For further information: