Legal news

New late payment regulations

Jonathan Winston Jonathan Winston
1 min read

Late payment has long been recognised as a problem within the European Union. To combat the problem further, a new Late Payments Directive has been proposed. Some of the key provisions are as follows:

  • Payment within 30 days of receiving the supplier's invoice, receipt or, in certain circumstances, verification of the goods or services, whichever is latest.
  • Extensions to 60 days may be agreed between the parties.
  • Interest at 8% above base rate on late payments.
  • Automatic entitlement to 40 Euros compensation for late payment.
  • In contracts which contain ‘verification periods’ to allow purchasers to check that goods conform to the contract, interest will not start to run until this period has expired.
  • Verification periods will be limited to 30 days to prevent abuse.
  • Parties will still be able to agree to payment by installments.

The Directive has been adopted by the European Parliament. It is expected that it will now be adopted by the EU and come into force by the end of the year. The Directive must then be implemented by the UK by early 2013.

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I cannot speak for Winston Solicitors as a whole, but I can confidently recommend Leasa Foster, who we’ve used twice now for moving house. On both occasions she has been outstanding. Without her, I’m certain the chain would have fallen into disarray, and completion would have been delayed by at least a month or two.Leasa took control, coordinating solicitors both above and below us in the chain to ensure paperwork was completed on time. In fact, some of the documents that others were only just starting, she had already handled months in advance.Overall, I’m extremely satisfied with the service from Leasa, Julie, and the team at Winston Solicitors. I’ll have no hesitation using them again—unless Leasa moves firms!
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Winston solicitor's was chosen by us to handle the conveyancing for our house sale and purchase. We were appointed Sam as our solicitor and we couldn't have asked for anyone better. Sam went above and beyond to assist me with my enquiries, demonstrating an impressive depth of knowledge. Our sellers solicitors could be quite problematic at times but Sam worked hard to ensure that obstacles were handled promptly, and that we were kept up to date with any progress.What stood out for me was Sam's genuine commitment to customer satisfaction. Her friendly demeanor and positive attitude created a welcoming atmosphere making me feel valued as a customer. In conclusion Sam exemplifies the epitome of customer service. Her professionalism, expertise, attention to detail and genuine care for the customer deserves recognition. I would not hesitate to recommend Sam to anyone seeking an exceptional service. Thank you for your outstanding support and dedication.
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I've used Winston Solicitors on multiple occasions for property sales an also to purchase and it will definately not be the last.This firm is professional and a massive shout out to sidraa who both times dealt with my purchase & sale of property.She is an absolute asset to Winston Solicitors and is the best out there at her job.Please keep up the great work and hopefully speak to you all again soon on my next purchase.
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