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Messages currently ordered by date added
Topic: HELP PLEASE... LOST MEMORY
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CREDIT MANAGER
Ron Bidwell
Posts: 131
Joined: 24 Jan 08
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Does anyone know or remember a piece of regulation that meant a government body could not invoice another government body after the previous financial year had ended?
Got an authority that is saying because we were late in invoicing for services supplied in Feb/Mar of 2010 (we invoiced in April) they are not paying... Only £60k.
I seem to remember that rule internally but not for private business. Any steer to the relevent rule would be gratefully appreciated.
TVM
Ron
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Manager Trade Credit
PMG Financial Services Ltd
Posts: 12
Joined: 09 Feb 10
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Ron,
I've not heard of that one, but then I haven't had much dealings with UK Govt bodies.
It could well be an internal Govt. rule, but I cannot see how they can apply that to general contract law. Why not ask the person who has given you that response to provide you with evidence of the law which they're quoting, that could be interesting.
This might interest you, and give you a point of reference.
http://rapidbi.com/management/10-day-payment-pledge-the-uk-government-support-for-the-credit-crunch/
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Recoveries
Finance
Posts: 21
Joined: 11 May 06
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I would agree with jearly that it is an internal rule to due with annual budgets. Basically if it was in last years budget and wasn't claimed the money would have been spent on something else prior to year end to get rid of it. And it isn't in this years budget so they will maintain the can't and wont pay.
Leak the story to the paper "Gov body refuses to settle its bills!! Government Purse Empty!! Inter-Government tussles over unpaid bills!!" " and see how quickly that cheque gets signed.. (not that anyone in the industry would adopt that tactic of course...)
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