Debts and Interest in the Construction Industry

Debts and Interest in the Construction Industry

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The late payment of commercial debts is a serious concern for the majority of UK businesses. The Late Payment of Commercial Debts (Interest) Act 1998, which came into force on 1 November 1998, was implemented to address this important issue by the introduction of a statutory right to interest on debts. Debts and Interest in the Construction Industry provides practical assistance for creditors and debtors in dealing with Act and claims for interest on debts.Interest would run from the date the main contractor received notice of the subcontractora#39;s claim for payment of the work.9 ... Payment Group Usera#39;s Guide suggests that notice should be in the form of an invoice setting out the following: l0 howanbsp;...

Title:Debts and Interest in the Construction Industry
Author: Scott Johnston
Publisher:Thomas Telford - 1999-01-01

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