1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164 
A cheque's in the post... honest
Page 13
If you've noticed an error in this article please click here to report it so we can fix it.
• Larger companies are taking longer to pay their bills, despite the government introducing late payment legislation. Distribution companies are among those recording an increase In payment times compared to six months ago.
A report by management consultancy Experian says the average payment period for large companies has Increased from 72 days in 1998 to 78.4 days nowan increase of 6.4 days. However, it adds that small and medium-sized companies have seen an overall improvement of 1.2 days In the last month across UK industry.
But as the economic slowdown continues, payment delays will Increase. says Experian spokesman Bruno Rost. "There is a direct relationship between economic performance and payment times, and the economy in this country is predicted to slow further" Rost advises companies to check a new client's payment terms. "Don't just accept their ward on payment terms, make sure you see them written down or check with their existing customers."
But Jeff Marriot, help desk operator at the Road Haulage Association believes there's always been a problem with late payment, and government legislation will not change things. "Though companies are now able to charge interest on overdue debts, it may sour the relationship, and then further business may not be forthcoming."