payment policy
Eddystone Net Technology needs to ensure that payments are received in a timely manner in order to protect the services we provide to our customers. In the interest of both the company and our customers we have developed this open policy which forms part of our Terms and Conditions.
Sending of invoices
All products and services must be paid for in advance of their delivery. Invoices will be dispatched 14 days before the due date.
Statutory Interest
The charging of interest on late payments is governed by the Late Payment of Commercial Debts (Interest) Act 1998 and the Late Payment of Commercial Debt Regulations 2002. The statutory interest is set on 1 June and 31 December each year. It is currently 8% per annum above the Bank of England's official dealing rate.
Overdue days
Overdue days are counted from and include the 29th day after the invoice date.
Late payment
All late payments will have statutory interest added for each overdue day.
Very late payment
Payments later than 42 days (that is 28 days overdue) will lose the benefit of any agreed discounts and will be charged at the currently published full price for services. Statutory interest will be charged on the full amount for each overdue day.
Reminders and late payment policy
If payment is not received after 28 days a reminder will be sent with a note drawing attention to our payments policy which is available on our web site.
If payment is not received after 42 days then a reminder will be sent with a note drawing attention to our payments policy which is available on our web site and an amended invoice without any discounts included and dated as per the original invoice.
If payment is not received after 56 days a second reminder will be sent with a printed copy of our payments policy and a warning that if payment is not received then the matter will passed to an agent for recovery.
If payment is still not received after 84 days then we shall suspend provision of the services and shall without further notice refer the matter to a factor or register the debt with the small claims court.