Legislative Interest on Late Payment - The BESA
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Legislative Interest on Late Payment

A Guide on the entitlement to claim interest and compensation on late payments under non-consumer contracts.

Published: May 2019
Pages: 3
BESA Product Code: LC 16

Since 2002, all businesses, including public sector organisations have been entitled to claim interest and compensation on late payments under non-consumer contracts. On 16 March 2013, new rules were introduced. A party to a commercial contract can claim (a) compensation, (b) interest and (c) reasonable costs of recovery.

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