Keep up to date with the latest small business news, advice and articles. Balloon payment loans. Your rights and how the changes to the late payment legislation will affect them. Sources of finance for small businesses. The explanation of the late payment legislation set out in this document refers exclusively to england and wales.

Vary the right to statutory interest so as to provide for a right to statutory interest that is not a substantial remedy for late payment of the debt. This user's guide explains how the late payment legislation in england and wales will work from 7 august 2002. Barclaycard, the uk's biggest credit card provider, supported rbs's line but said it would fully co- operate with the oft to address the issue of late payment charges. Top business stories ryanair lifts stake in aer lingus. It is hoped that small businesses themselves will utilise the site more fully, as john walker states. August 18, 2006 new figures suggest that businesses are seeing longer credit terms as a legitimate way to extend payment.

Its aim is to improve the payment culture of the uk business community and reduce the incidence of late payment of commercial debt. The federation of small businesses. The insolvency act 1986. Business credit card add your opinion talkback: be the first to add your opinion on this article. However, if they do not make arrangements, the remedies for late payment provided by the late payment legislation will apply. You could offer an early payment discount, or a discount for upfront payment of several installments. Perhaps the late payment legislation would have had more success had it made the interest charged on late payment compulsory.

Read advice for reducing late payment risks on the better payment practice campaign bppc website. Clearly print your terms and conditions for payment on any contracts or order confirmations signed with an end- client. David irwin said: "late payment wreaks havoc among small businesses. Add guide to my print portfolio print later as pdf email options - what are my email options.

January 10, 2006 new research from an online factoring service shows businesses are reaping the benefits of the digital age. Well worth a look is business link's section on credit control and invoicing. If they do make their own arrangements for contractual interest, the late payment legislation will not apply. abbey com mortgages