Law-Now
Ousting the Late Payment Act: what exactly is a “substantial remedy”?
17 Oct 2024
United Kingdom
1 min read
Authors
Two recent TCC decisions have considered the scope for parties to oust the provisions of the Late Payment of Commercial Debts (Interest) Act 1998 (the “Late Payment Act”). In one case, the application of a penal rate of interest to undisputed debts was sufficient...