Research conducted by the Better Payment Practice Group (BPPG) during October indicates that the overwhelming perception of the Late Payment of Commercial Debts (Interest) Act is that, first and foremost, it should be used as a deterrent.
The web poll, conducted on the BPPG website, asked whether the most important and effective application of the legislation was either applying for and obtaining compensation for late payment, or using it as a deterrent on invoices and reminders. Of the 739 respondents, 68% said that the use of the legislation as a deterrent is its most important and effective role.
