Claim statutory compensation for invoices dating back up to 6 years.
The Late Payments Act 1998 later changed to the Commercial Late Payments Act 2013 enables the supplier to charge statutory late compensation fees, Interest (8% + Bank of England Interest Reference Rate) and reasonable administrate costs associated with each late paid invoice.
Despite this legislation existing for over 20 years it has been a well kept secret and many small businesses are completely unaware of it's existence and the power it provides to small businesses with limited resources chasing invoice payment.
And for those businesses which are aware of the legislation often shy away from exercising their statutory rights out of risk of embarrassment or ridicule by larger customers telling them to "stick it" or simply ignoring them.
A Late Invoice Demand is Generated per each Overdue or Late Paid Invoice. This is essentially attached to the original invoice via our unique payment table which is available to the customer and debtor via a link which they can open in any one of the reminder emails, SMS texts or Whatsapp messages we send.
The Table consists of the digital Late Invoice demand and original Invoice which can be paid directly using our automated payment checkout feature via Stripe. Both amounts are considered one debt essentially and so have to be paid in order for the debt to be completely cleared. If only the original balance is paid then the Late Invoice Demand remains due and accrues daily interest until payment is finalised.
You have been issued with...
Today
Your Invoice will become...
1 week ago
Not long until your Invoice...
2 weeks ago