Terms of payment

We have amended our terms of payment in accordance with government guidance for small businesses.

An invoice will be deemed late after 30 days from date of invoice or from date of renewal of service (which will be indicated on the invoice).

Example: If you receive an invoice dated 25th March for renewal of service form 1st April your payment will be deemed late after 30th April. If you receive an invoice dated 5th April for renewal of service from 1st April, your payment will be deemed late after 5th May.

Late payments

Late payments will accrue interest at a rate of 8% plus the Bank of England base rate and a debt recovery payment of £40.

https://www.gov.uk/late-commercial-payments-interest-debt-recovery/when-a-payment-becomes-late

Why have we amended our terms?

As a small business working in the IT sector, the reduction in the value of Sterling has added significant costs to our business. Virtually all the software we licence is priced in US Dollars. We recently took the decision to freeze our prices to customers for the 4th year in succession as we realise that financial settlements for schools are tight. However, in order the achieve this we cannot afford to host customer sites for extended periods without payment.

 

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