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  • How much compensation am I entitled to under late payment regulations?

    Compensation for recovery costs should be paid automatically to the supplier without the necessity of a reminder. The regulations provide that the following flat rates should be used:

    Schedule of compensation costs:

    Amount of late payment (invoice value)Compensation amount
    Not exceeding €1000€40
    Exceeding €1000 but not exceeding €10,000€70
    Exceeding €10,000€100

    In addition to the compensation for recovery costs set out in the above Schedule, the 2012 regulations also entitles the supplier to obtain further recovery costs, for example, the cost of using a solicitor or employing a debt collection agency.

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