Category Archive: Late Payment

Do You Need To Update Your Contract For 2020?

As the end of the year draws closer it’s a good time to review the different elements of your business. You can check your stock and your sales, your products and your people. In fact, there are many areas which can be analysed at the end of the year and it’s important to check you’re […]

What do you need to check when thinking about your contract?

There are six elements to every legal contract and I cannot recommend enough that you get your contract professionally written and reviewed regularly. There are so many times consumers and businesses get caught out by badly written contracts. Yes, it costs money to create a solid contract, but I am sure it will cost a […]

When should I raise my invoice? Why does it matter?

A question I sometimes get asked by my clients is “when is the best time to raise an invoice” and it can vary from client to client, depending on the type of business and the terms in their contract. Ideally, an invoice should be raised as soon as your customer wants your product or service […]

How long does an average company take to pay an invoice?

Even though you could send the same invoice for the same product or service to two different companies you’ll probably find one of the companies pays you quicker than the other. You might find one company pays up front and extracting money from the other company is like squeezing water from a stone. Overall there […]

DIY Terms: 6 Things to check before writing your own terms

Having Terms is a key part of your business and while I’d always recommend you get them professionally written, I know there are a lot of businesses, often start-ups, who copy and paste their Terms from other companies. It’s absolutely fine to write your own Terms, but here are 6 things to be aware of: […]

How can you increase your cashflow on blue Monday?

Christmas has been and gone, the decorations put away and everything looks bare and empty. The weather’s cold, drizzly and the mornings are still dark and gloomy. If you turned on the radio or seen any online news today, you probably know today is Blue Monday; the day in the year when we’re supposed to […]

Do you dream of being paid on time, everytime?

Would it be a dream come true if your cash flow was always positive because your customers pay your invoices on time, every time? The main reason cash flow suffers is because of late payment and because they’re our lovely customers and we don’t want to lose or upset them, we just sit there, wait […]

How do you apply the Late Payment of Commercial Debt to your invoices?

What is The Late Payment of Commercial The Late Payment of Commercial Debts (Interest) Act 1998 is a Statutory instrument made on 4 October 1998 which came into force in November 1998. Can anyone apply late payment legislation? It applies to commercial transactions. The legislation may be applied to a business debt between a limited […]