Late Invoice Payment Has to be Curtailed, Due2pay is the New Kid on the Block With Teeth

Written by admin on April 26th, 2011

It is unfortunate that UK Limited companies are struggling even more due to late payment of invoices for work which they have completed. It is a practice which has been going on for many years but only in recent years has it exploded into acceptable commercial practice. It is used to fund cash flow for businesses which want to keep their liquid assets in their own bank earning interest for themselves. Consider the interest paid on a commercial loan of £50,000. Then consider how this interest can be saved by delaying payments to suppliers. ZERO percent interest is so attractive for ruthless businesses. The The commercial world is tightening its belt. Major Banks are reporting a growing number of British firms have fallen behind with their repayments. Business debt collection is more important than ever to prevent cash flow issues. This has led to larger companies getting more aggressive and

1) forcing extended credit terms on suppliers
2) demanding discounts on already agreed prices
3) demanding settlement discounts for just paying on time
4) Imposing retrospective rebates for goods already delivered.
5) Using late payment as an easy way of funding their own cash flows.

These are extremely worrying developments for the whole business community.

It is now more important than ever for small businesses to protect themselves and ensure invoices are paid on time ensuring a company credit check is carried out.This will help them avoid potential cash flow problems, which, if not addressed quickly could result in the ultimate closure of their business.
An internet based service to help victims of late payments called DUE2PAY LIMITED has been specifically designed to help these companies recover their overdue invoices, without the need to go to court or traditional debt recovery methods. It acts to share information on companies identified as late payers by fellow members, giving them the opportunity to make more informed decisions in dealing with a particular company.

The service is offered free on a 60 day trial, after which, normal membership fees will apply. If you are interested please contact DUE2PAY.CO.UK

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