Dear Valued Clients,
We would like to inform you about an important update regarding our payment policy at LocalWeb UK. As part of our ongoing efforts to maintain the highest level of service and ensure a smooth business relationship, we have implemented a late payment fee in accordance with the Late Payment of Commercial Debts (Interest) Act.
**Background:**
Over the past months, we have been fortunate to work with many wonderful clients who have supported us with their business. We truly value these partnerships and appreciate your continued trust in our services.
However, we have noticed that there have been instances of delayed payments that have impacted our operations and resources. As a result, we have decided to implement a fair and transparent late payment fee policy to ensure that our business interactions remain mutually beneficial.
**Late Payment Fee Policy:**
Effective 30-08-2023, in line with the Late Payment of Commercial Debts (Interest) Act, a late payment fee will be charged on overdue invoices. The details of the late payment fee structure are as follows:
- **Initial Reminder:** An initial reminder will be sent once the payment becomes overdue. We understand that oversights can happen, and this serves as a gentle nudge to settle the outstanding amount.
- **Late Payment Fee:** If the payment remains overdue after the initial reminder, a late payment fee of [Fee Amount] will be applied. This fee is calculated based on the amount of the invoice and the number of days it is overdue.
- **Accrual:** The late payment fee will continue to accrue for each subsequent day that the invoice remains unpaid.
We believe that this policy will help us maintain a more efficient and productive business relationship by ensuring that payments are processed in a timely manner, allowing us to continue delivering top-notch services to all our clients.
**Action Required:**
We kindly request all our clients to review our updated payment policy and ensure that payments are made within the agreed-upon terms to avoid any late payment fees. If you have any questions or concerns about this policy, please feel free to contact our accounts department.
We truly value your partnership and appreciate your attention to this important matter. Thank you for your continued support and for being a part of the LocalWeb UK community.
Warm regards,
LWEBUK Accounts Department
Wednesday, August 30, 2023
