Compensation Chargeable
Once statutory interest begins to run in relation to a qualifying debt, the supplier is also entitled to a fixed sum
(a) for a debt less than £1000, the sum of £40;
(b) for a debt of £1000 or more, but less than £10,000, the sum of £70;
(c) for a debt of £10,000 or more, the sum of £100.
Read more about this topic: Late Payment Of Commercial Debts (Interest) Act 1998
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