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Payment Terms

What is a late payment?

When your work is complete, you will be issued with an invoice. All invoices have an issue date, which is the day the invoice is generated and sent. That issue date is present on every invoice.
Invoices also include payment terms. Those payment terms denote when the invoice must be paid by. This is made clear in the form of a ‘due date’ – and also in the form of payment terms included in the footer of your invoice. Payment terms (unless agreed prior) will always be 30 calendar days from the date the invoice is issued.

If you don’t pay within those 30 calendar days, your payment is late and you may be subject to late payment fees.

About late payment fees

Firstly, it’s important to note art all late fees are discretionary and applied on a case-by-case basis. Mistakes happen – and sometimes these things are unavoidable.
As soon as you know the payment is going to be late – get in touch! Not only is it common courtesy to keep everyone informed, but it also means that no further time needs to be taken chasing up why your payment hasn’t been made.

In short, to avoid any chance of incurring a late fee, please ensure all invoices are paid well within the standard timeframe of 30 calendar days. If you can’t – get in touch and we’ll figure something out without having to apply late payment fees.

If you’ve made no attempt to inform of an upcoming late payment or if you’ve repeatedly failed to meet payment terms, you might incur a late payment fee.

Late fees for all B2B invoices are charged in two parts:

Part 1: Interest
Overdue payments may incur statutory interest charged at 8% of the invoice total.

Part 2: Administration & Debt Recovery
Chasing non-payments uses up valuable time and money – so the following fees can be applied if time and/or resources are used to repeatedly chase up late payments.

The amount you can be charged is based on the amount owed on your invoice.

  • Up to £999.99 = maximum of £40 penalty

  • £999.99 to £9,999.99 = maximum of £70 penalty

  • Over £10,000 = maximum of £100 penalty