Late Payment of Commercial Debts (Interest) Act 1998: Key legislation governing statutory interest rates for late payments, rights to claim compensation for late payments, and fundamental payment terms requirements in commercial transactions.
The Late Payment of Commercial Debts Regulations 2013: Regulations specifying maximum payment terms, verification procedures, and detailed provisions for interest calculations on late commercial payments.
Consumer Rights Act 2015: Legislation establishing fair terms requirements, transparency obligations, and consumer protection provisions when payment terms involve consumers.
Supply of Goods and Services Act 1982: Act governing payment obligations and service delivery terms in contracts for goods and services.
The Unfair Contract Terms Act 1977: Legislation controlling unfair terms in contracts and establishing limitations on liability, particularly relevant for payment terms.
Payment Services Regulations 2017: Regulations covering payment processing requirements, banking arrangements, and electronic payment provisions.
Bills of Exchange Act 1882: Historic legislation governing negotiable instruments, payment methods, and the use of cheques and drafts.
Money Laundering Regulations 2017: Regulations establishing payment verification requirements and due diligence obligations for financial transactions.
