Late payment law gets earlier introduction
Late payment law gets earlier introduction
- 2002
- RICS Faculty News 23 May 2002 (1) .
The amended Late Payment Act comes into force on 7 August 2002, implementing a series of new regulations. The act is designed to speed up the process of payment to architects. The new legislation was produced after consultation carried out last year in response to a European Directive on combating late payment in commercial transactions. Further guidance about the new late payment arrangements can be found on at the Better Payment Practice Group's website www.payontime.co.uk; http://www.rics.org/ricscms/bin/show?class=News&template=/includes/shownews.html&id=2618
EUROPEAN UNION
COMMERCIAL TRANSACTIONS
SMES
ARCHITECTS
SMALL BUSINESSES
LATE PAYMENTS DIRECTIVE
COMPENSATION
The amended Late Payment Act comes into force on 7 August 2002, implementing a series of new regulations. The act is designed to speed up the process of payment to architects. The new legislation was produced after consultation carried out last year in response to a European Directive on combating late payment in commercial transactions. Further guidance about the new late payment arrangements can be found on at the Better Payment Practice Group's website www.payontime.co.uk; http://www.rics.org/ricscms/bin/show?class=News&template=/includes/shownews.html&id=2618
EUROPEAN UNION
COMMERCIAL TRANSACTIONS
SMES
ARCHITECTS
SMALL BUSINESSES
LATE PAYMENTS DIRECTIVE
COMPENSATION