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Late payment of debt: re-thinking the response

Finch, Vanessa (2005) Late payment of debt: re-thinking the response. Insolvency Intelligence, 18 (3). pp. 38-40. ISSN 0950-2645

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Explores the effectiveness of the Late Payment of Commercial Debts (Interest) Act 1998 in assisting small businesses in debt collection. Highlights the concern of small businesses that taking action under the Act will prejudice commercial relations. Identifies other possible strategies including: (1) "naming and shaming"; (2) factoring; (3) discounts for prompt payment; (4) preventing dependency on one large debtor; (5) researching creditworthiness of debtors; (6) seeking the opinion of a credit insurer; and (7) a cultural change in large companies. Considers the potential for Government action.

Item Type: Article
Additional Information: © 2005 Sweet & Maxwell
Divisions: Law
Subjects: K Law > K Law (General)
Date Deposited: 23 Oct 2008 13:59
Last Modified: 16 May 2024 00:20

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