Help Needed on Contract

calculation

I don't see any pa in the clause.

I don't see any pa in the clause.

In message , Phil writes

Looks like an estate agents contract, but poorly written, and designed to say what you infer. If you are concerned, ask them to rewrite it in clearer terms.

It will likely be academic as long as the bill is paid within 3/4 weeks of completion, or so.

My agreement says something like 4% over National Westminsters base rate, but I have only once enforced it, more as a matter of principle rather than for the money.

calculation

It could go either way. I'd say you'd have to pay 7.5% (NO PA!) even if you were one day late but also it allows you to be late and what's to stop you being 10 years late and only paying 7.5% (NO PA!)?

It could go either way. I'd say you'd have to pay 7.5% (NO PA!) even if you were one day late but also it allows you to be late and what's to stop you being 10 years late and only paying 7.5% (NO PA!)?

"I understand it it went to court they would apply a percentage of their choice in the absence of clarity in the contract.

Phil"

Who's "they"?

Phil"

Who's "they"?

"The court carry a fixed interest which I believe at present is in the region of 8%.

Phil"

Doesn't that only apply if you lose the case? I don't think they use as a way of sorting out badly worded terms in a contract.

Phil"

Doesn't that only apply if you lose the case? I don't think they use as a way of sorting out badly worded terms in a contract.

"Phil" wrote

Aren't small businesses now allowed to charge a specific amount (something like 4%?) over base rate on late-paid debts, even if there's no clause in the contract which specifies interest??

So can big businesses for invoices after 7 August 2002.