Cough up - with interest
Article Abstract:
The UK government's Late Payment of Commercial Debts (Interest) Act 1998, which comes into effect on Nov 1, 1998, will give individuals and businesses with fewer than 50 employees the right to claim penalty interest from clients who do not pay their bills on time. This right will be phased in over four years, beginning with small businesses. The government aims to encourage businesses to agree their own contractual terms giving the right to interest if payment is not made on time, which would take precedence over this legislation.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Covering the cost of the Millennium bug
Article Abstract:
The UK Solicitors Indemnity Fund (SIF) is facing a number of challenges as it seeks to assess the extent to which the law firms it provides with compulsory professional indemnity insurance are exposed to the year 2000 computer date change problem. Law firms are likely to be vulnerable to this problem in the form of failures within their own systems and failure to take the problem into account when advising clients. SIF is still debating how to raise the money to fund any year 2000-related claims.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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IT switches on to ADR
Article Abstract:
Alternative dispute resolution (ADR) could prove very useful to information technology (IT) companies in the UK as they seek to address the legal difficulties which may result from the year 2000 date change problem. ADR is already fairly widely used in IT cases, and courts are encouraging more extensive use of ADR generally. Where there is a dispute over an IT contract, ADR has the potential to bring a cheaper, quicker solution.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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