22 Jan Overhaul of Prompt Payment Code (PPC) to Reduce Effects of Late Payment
The Government has announced a large overhaul of the Prompt Payment Code (PPC) which could have profound effects on late payments and the commercial debt recovery industry.
A key element of the update of the Code is the reduction from 60 days to 30 days in the time signatories to the code need to pay small businesses.
Currently approximately 3000 companies have signed up to the Code and yet late payments are still rife but the changes will give business debt collection agencies like Veritas Legal the opportunity to recover debts a full 30 days earlier than previously.
Veritas Legal offer a free commercial debt recovery service, as the fees are recovered from the debtor
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