The Late Payment of Commercial Debts (Amendment) Regulations 2018 came into force on 26 February 2018. They introduce a new regulation: the Reporting on Payment Practices and Performance Regulations 2017. This webinar reviews the rules as well as the payment policy requirements and payment term issues such as interest, suspension and set off.
o Grossly unfair contractual terms and practices to address the imbalance of power
o Thresholds and qualifying criteria
o Which entities qualify?
o When to publish and where?
o Dealing with late payments
o Interest - statutory/contractual LPCDIA
o Set-off - can payment be withheld?
o Suspending or terminating the service/goods
o Other codes - Grocery, public sector and others