Late commercial payments

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) 

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