Latest research from the Credit Management Research Centre (CMRC) at Leeds University Business School, and member of the Better Payment Practice Group (BPPG), reveals that businesses are not using the late payment legislation to their best advantage by omitting their rights under the legislation from
their terms and conditions.
CMRC carried out research into the credit management practices of over 1,000 UK firms both small (under 50 employees) and large (over 250 employees).
Three quarters of businesses surveyed said their trading conditions allowed them to charge interest on overdue accounts. However this reduced substantially to 55 per cent of the small firms in the sample.
