International LATE PAYMENTS What’s Law and What’s Proposed?

The article presents the late payments are making headlines for the U.S., Great Britain and India. Topics include the Act gives unpaid suppliers of goods and suppliers of services a statutory right to claim interest on overdue debts and compensation for late payment, the legislation proposes small businesses serving as prime contractors or subcontractors for the federal government, and the creditors are automatically has entitled to statutory interest for late payment.