Article
Paid In 60 Days: The Government’s New Commercial Payments Bill Aims To Crack Down On Late Payments Across UK Supply Chains
The Commercial Payments Bill proposes to cap payment terms at 60 days, void non-compliant clauses, and arm the Small Business Commissioner with wider enforcement powers. Businesses in sectors with extended supply chains should audit existing supplier contracts now, as any payment terms exceeding 60 days will be rendered void under the new regime.
Macfarlanes LLP
