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SHARP INCREASE
Page 16
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Mark O'Bomick, research and analysis director at Analytica, believes road transport companies have seen a sharp increase in the number of customers delaying the payment of invoices in recent months.
"The ultimate sanction is to use late payment interest legislation or take court action to force clients to pay. Hauliers have been reluctant to choose this option for fear of permanently souring otherwise good trading relationships."
OBornick believes that average payment periods are extending in the current economic climate. He says: "UK hauliers fare better than their European counterparts. In countries such as Spain or Italy, companies have to wait up to twice as long to receive payment."
• The Department for Business Enterprise website gives details on late payment interest charges. Log on to www.berr.gov.uktfiles/ file 37581.pdf