In the current economic climate, SaaS customers often deliberately delay payment of invoices. In order to protect your SaaS business and improve your cash flow, you should consider including the following in the terms of your SaaS agreement.
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Interest from Customers who Pay Late – BTB
In the current economic climate, business customers often deliberately delay payment of invoices. Protect your business and improve your cash flow, by exerting your right to claim interest on late payments. Is an interest clause required in the contract? No. There is no requirement to have an interest clause in your contract. You have a statutory right to claim interest on late payments from a business customer (BTB). The statutory interest rate applicable is the Bank of England Base Rate + 8%. At the time of writing the currently applicable
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