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Late Payment Of Commercial Debts (Interest) Act 1998
The Late Payment of Commercial Debts (Interest) Act 1998 is an Act of the United Kingdom Parliament enabling businesses to charge other business customers interest on overdue accounts and to obtain compensation. The Act extends to England, Scotland and Northern Ireland. Originally it was only designed to give small and medium-sized businesses (with 50 or fewer employees) the right to charge interest to larger businesses and public sector organisations of any size. Statutory interest The right to charge interest applies to overdue accounts relating to a sale of goods, the hiring of goods or to a supply of services. The court can modify or exclude the provisions if the conduct of the supplier has been such as to make the imposition of interest, in whole or in part, against the interests of justice. Interest can accrue from the latest of * 30 days after the goods are supplied or the service is completed, * 30 days after receipt of invoice (or the customer is told the amount due ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Acts Of Parliament Of The United Kingdom Parliament, 1980-1999
{{British legislation lists This is an ''incomplete'' list of Acts of the Parliament of the United Kingdom from its establishment in 1801 up until the present. Lists of Acts by Year * List of Acts of the Parliament of the United Kingdom, 1801–1819 * List of Acts of the Parliament of the United Kingdom, 1820–1839 * List of Acts of the Parliament of the United Kingdom, 1840–1859 * List of Acts of the Parliament of the United Kingdom, 1860–1879 * List of Acts of the Parliament of the United Kingdom, 1880–1899 * List of Acts of the Parliament of the United Kingdom, 1900–1919 * List of Acts of the Parliament of the United Kingdom, 1920–1939 * List of Acts of the Parliament of the United Kingdom, 1940–1959 * List of Acts of the Parliament of the United Kingdom from 1960 * List of Acts of the Parliament of the United Kingdom from 1961 * List of Acts of the Parliament of the United Kingdom from 1962 * List of Acts of the Parliament of the United Kingdom from 1963 * Li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Base Rate
In probability and statistics, the base rate (also known as prior probabilities) is the class of probabilities unconditional on "featural evidence" (likelihoods). For example, if 1% of the population were medical professionals, and remaining 99% were ''not'' medical professionals, then the base rate of medical professionals will be 1%. The method for integrating base rates and featural evidence is given by Bayes' rule. In the sciences, including medicine, the base rate is critical for comparison. In medicine a treatment's effectiveness is clear when the base rate is available. For example if the control group, using no treatment at all, had their own base rate of 1/20 recoveries within 1 day (meaning 1 out of every 20 people recover in 1 day) and a treatment had a 1/100 base rate of recovery within 1 day, we see that the treatment actively decreases the recovery in the first day for the winter cold. Base rate fallacy A number of psychological studies have examined a phenom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Late Payments Directive
The Late Payment Directive, 2011/7/EU is a Directive of the European Union concerning commercial late payments. It replaced the previous Late Payment Directive 2000/35/EC. Like all European Union directives, this is an instrument which requires member states to enact its provisions in national legislation by 16 March 2013. The directive applies to all member states. The directive aims to achieve 'a decisive shift to a culture of prompt payment' and requires debtors to pay interest and the reasonable recovery costs of the creditor if they do not pay for goods or services on time. The limits are within 60 days for businesses and within 30 days for public authorities. In Ireland, the Directive has been implemented through the European Communities (Late Payment in Commercial Transactions) Regulations 2012. In the United Kingdom, the Directive was implemented through the Late Payment of Commercial Debts Regulations 2013 (SI 395/2013). In 2016, the European Commission reported conce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest
In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the bank plays the role of the borrower. Interest diff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Acts Of Parliament 1998
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
