Changes to the legislation were tabled at European level which needed to be adopted by England, Wales and Northern Ireland. Consultation ensued and now the existing legislation has been amended. The Late Payment of Commercial Debts Regulations 2013 was introduced on the 16th march 2013
With social networking having such an impact on the way we communicate on a personal and business level, we decided to add a feature to allow Pay on Time supporters to add their social media links to their supporter listing.
Now a viewer can find out more about you or your business via your Facebook page, Tweets, LinkedIn profile and Google+ page. A great way to find businesses and make new connections with potential customers knowing that they support Prompt Payment!
If you are already a supporter, click on 'edit your supporter entry' listing in the registered user links menu and update your listing. There is a forgotten password link just in case.
To sign up as a Pay on Time supporter and add your business to our supporters list, just follow this link and fill out the form.
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Fraud is all too common these days, and small businesses can be vulnerable. This section doesn't attempt to cover every type of fraud that might affect firms, but concentrates on a few of the most prevalent and offers some advice about what you can do to avoid them.
Newspaper stories reveal all too often that it only takes one dishonest employee to bring a company to its knees. How can you ensure that this doesn't happen to yours?
We've all read horror stories about company hi-jackings. This happens when fraudsters (without the genuine company's knowledge) change the details of directors and the registered address with Companies House in order to hi-jack the company's identity. This is generally done so that the fraudsters can go on a spending spree, or have high-value goods delivered to the "new" address, leaving the company with a massive debt and a ruined credit rating on top of leaving the genuine directors to try to reclaim the company's identity.
For more information about how to avoid fraud:
CIFAS is a not-for-profit membership association representing the private and public sectors. CIFAS is dedicated to the prevention of fraud, including staff fraud, and the identification of financial crime.
CIFAS has over 250 Members spread across banking, credit cards, asset finance, retail credit, mail order, insurance, savings, telecommunications, factoring, share dealing and the public sector. Although at present CIFAS Members are predominantly private sector organisations, public sector bodies may also share fraud data reciprocally through CIFAS to prevent fraud.
Members share information about identified frauds in the fight to prevent further fraud. Since CIFAS was founded, CIFAS Members have prevented fraud losses to their organisations worth billions of pounds by sharing fraud data in this way.
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