Game changer

8th June 2017 Industry opinion |

ON the 28 November 2016, Scotland’s court procedure to recover debts of less than £5,000 was radically altered. The old Summary Cause and Small Claims procedure has been swept away by new, more simple rules, with unrepresented litigants in mind. The new rules will allow the Sheriff to ‘take an interventionist approach to identify the…

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Duty to report: regulation and recognition of the Prompt Payment Code

8th June 2017 Industry opinion |

What does the PPC mean to credit managers? The Prompt Payment Code (PPC) was introduced in 2008 to improve and administer businesses payment terms. The primary objectives are to ensure suppliers are paid on time and that clear guidance is given regarding payment terms. More specifically, signatories undertake to pay suppliers within a maximum of…

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Ratesetter cancels George Banco lending agreement

8th June 2017 Consumer Collections |

Peer-to-Peer lender RateSetter has cancelled a deal to lend directly to guarantor George Banco’s customers. Last month RateSetter and George Banco entered a lending agreement as Ratesetter also announced the acquisition of Vehicle Stocking and Vehicle Credit. The partnership with George Banco was designed to build relationships with lenders. RateSetter announced its decision to pull out of…

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