Lovetts, a major English Law firm, has drawn attention to the fact that businesses are losing out on considerable sums by failing to utilise their rights under Late Payment legislation. The full text of their report can be read in Industry today AMA fully support that point of view and have successfully recovered substantial sums for clients by using Late Payment Interest and Charges.

It is worth bearing in mind that late payment interest rates are currently 8.5% and with charges being applied at a minimum rate of £40.00 per invoice, any losses incurred due to late payment can be more than offset by the interest and charges. In these difficult trading times these may be sums creditors can ill afford to miss out on.