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Wed all agree that writing effective collection letters is a balancing act between ensuring you receive payment in full and maintaining a positive working relationship with your customers. Include Adequate Details Provide your customers with bank details, or who to contact if you can take payment by credit/ debit card, in your letters.
Even before i reached i got a call from my ex colleague if i am attending the event as he was able to see my summit ID card not yet collected. He provided more values on the textile wastes and the challenges in the collection and segregation. Once again this topic was on the circular business models in the textiles.
If you do not have any terms regarding charging interest on late payment in your terms and conditions, you can rely on the Late Payment Legislation or as formally referred to ‘The Late Payment of Commercial Debts (Interest) Act 1998 as amended and supplemented by the Late Payment of Commercial Debts Regulations 2013’.
Redman, “the Data Doc,” President of Data Quality Solutions, and originally published at Harvard Business Review on December 2013. Update from Tom (June 2023): “Data’s Credibility Problem, which appeared in the print edition of the December 2013 Harvard Business Review is far and away the most impactful article on data quality I’ve written.
Although we won’t be discussing the Prudential Regulation Authority here, the Financial Conduct Authority (FCA) heralded a new financial regulatory structure from 1st April 2013 onwards. Then came the Prudential Regulation Authority and the Financial Conduct Authority. We will get that changed! and contact us to discuss your needs.
The legislation was further amended in April 2013 to allow the right to claim additional costs incurred in collecting overdue payments if the fixed fee compensation does not cover all costs. The post Late Payments of Commercial Debts Regulations 2013 appeared first on CreditManagement Group UK.
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