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The FPB is perhaps best known by politicians for its long running and successful campaign on late payment.
Securing prompt payment of sums owed to your business is central in achieving a healthy cash flow. Late payment of commercial debts used to top our members' list of concerns, which is why the FPB campaigned long and hard to reform payment practice. A key element of reform was the introduction of legislation which granted businesses the statutory right to claim interest on late payment of debt.
Since its introduction in 1998, similar legislation has been adopted across the EU.
The FPB was instrumental in establishing the Better Payment Practice Group (www.payontime.co.uk).
The FPB most recently represented contractors involved in the Foot and Mouth clean-up in their fight to settle outstanding invoices with Government department Defra.
Late payment forms part of our 'Think Smallest First' campaign. We are pushing for a significant reduction in the time taken for small firms to receive payments from debtors. For an update on this campaign, click here.
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