The Haymarket rite
The law against late payment is proving effective for freelances who write for Haymarket publications. Frustrated by delays of up to eight weeks, some freelances are stipulating on their invoices that payment should be made within 30 days.
They are also providing a link from the DTI website, which states that a £40 payment of compensation is enforceable, as well as interest, if payment is late.
The Government recommends the following wording:
We understand and will exercise our statutory right to claim interest and compensation for debt recovery costs under the late payment legislation if we are not paid according to agreed credit terms.
The relevant legislation is the Late Payment of Commercial Debts Act (1998), updated in August 2002.
There is more information at www.londonfreelance.org/fl/0207late.html. And there is also a handy calculator for interest rates at www.londonfreelance.org/interest.html
The Freelance Office is still in the process of collecting names of regular freelance contributors to Haymarket who would be interested in forming a network to challenge the company's rights-grabbing contracts.
If you are interested, and have not already done so, please give your name and email address to email@example.com