Late Payment of Commercial Debts (Interest) Act 1998: Primary legislation governing late commercial payments, establishing statutory interest rates, compensation for debt recovery costs, and defining payment terms for business-to-business transactions
The Late Payment of Commercial Debts Regulations 2013: Updates to the 1998 Act including provisions for maximum payment terms and verification procedures in commercial debt collection
Limitation Act 1980: Establishes time limits for debt recovery actions, particularly the 6-year limitation period for simple contracts under English law
Financial Services and Markets Act 2000: Regulates financial communications and debt collection practices in the financial services sector
Business Protection from Misleading Marketing Regulations 2008: Ensures business communications are not misleading and maintains standards for truthful representation in commercial communications
Data Protection Act 2018 and UK GDPR: Governs the handling of business data and privacy considerations in commercial communications and debt collection
Contract Law principles: Fundamental legal principles governing commercial agreements, including basis of original agreements and terms and conditions
UK Code of Non-broadcast Advertising and Direct & Promotional Marketing: Provides guidelines for business communications and ensures fair representation in commercial marketing and correspondence
