At StatClaim, we believe that businesses have the right to expect payment of their invoices on or before the agreed due date and that should this not happen, they should be entitled to compensation. The Late Payment of Commercial Debts (Interest) Act 1988 supports this principle.
The Act serves both as a deterrent against late payments whilst also providing a legal entitlement to claim compensation and interest in the event that payment is not received on time.
Our Prompt Payment Scheme encourages this by informing customers that timely payment of invoices is expected and that, should that not be the case, compensation and interest will be claimed in accordance with the provisions of the Act.
Whilst some companies are already including a reference to the Act, in the terms and conditions on their invoices, in accordance with guidelines from both the government and the Federation of Small Businesses, many of our customers felt that using a national organisation such as StatClaim, who are specialists in this field, adds much needed additional credibility and assures customers that the process will be handled in a professional manner should it be necessary to enforce the claim for compensation. By becoming a member of StatClaim, not only will you enjoy the reassurance of our support, but you will receive additional benefits available only to our members for a very small monthly fee.
Let StatClaim become your financial and legal ‘guardian angel’
We are confident that the scheme serves as a highly effective deterrent against late payment, one of the major problems affecting businesses today and from which few are immune. We have been trialling the service amongst a cross section of our customers over the past few months and early reports show a reduction in late payments of up to 75%!
Join StatClaim and benefit from this welcome boost to cashflow as well as the peace of mind that you have the resources of a specialist national company behind you should it become necessary to claim conpensation or even to pursue legal action. We will be there to support and assist you every step of the way.
Become a member of StatClaim, for the special introductory price of just £4.95 + VAT per month (normally £19.95 + VAT), or £49.50 + VAT per year (normally £199.50 + VAT), and receive the following members’ only benefits:
- the facility to use our ‘shield’ on your invoices and website informing your customers that you are members of the Prompt Payment Scheme
- access to our services (FREE OF CHARGE*) to claim compensation and interest, should you not receive payment by the due date
- a free “company health check” consultation with one of our panel of specialist corporate solicitors**
- Corporate legal services at discounted members’ rate
To sign up and pay monthly, please click the button below. There is no minimum term and you may cancel at any time. Full details of our service can be found in our terms and conditions.
To make an annual payment, please click here.
*our regular fee of 10% is waived for our members
** the “healthcheck” consists of a 20 minute telephone conference and can include general discussions on issues such as:
- Terms & Conditions
- Employment Contracts
- Service Contracts
- Debt Recovery