Hi
I'm currently experiencing some problems being paid by a client, and wanted to ask about the interest one can charge using this act.
The question is: is the amount of interest chargeable on a daily basis, or cumulative for every 30 days that any payment is late? One payment I'm owed is 60 days late, another 30 days late, so I'm trying to figure out the amount I need to add as an interest charge.
Any help much appreciated!
I'm currently experiencing some problems being paid by a client, and wanted to ask about the interest one can charge using this act.
The question is: is the amount of interest chargeable on a daily basis, or cumulative for every 30 days that any payment is late? One payment I'm owed is 60 days late, another 30 days late, so I'm trying to figure out the amount I need to add as an interest charge.
Any help much appreciated!
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