Debt Recovery in the Media Industry
For many companies that deal with other businesses, non-payment from a client can have a knock-on effect on their cashflow.
The Late Payment of Commercial Debts Regulation 2013 was brought in to combat late payments in business to business cases.
This ensures that late payment interests can be added onto overdue invoices in addition to the costs incurred by using or instructing a debt recovery specialist.
In theory, you could instruct a debt recovery agency and still receive the full balance owed to you.
The interest charge would be a form of compensation for the client's delayed payment.
To hear more on how this could help your company, please give us a call on 01883 212121.