LPCA Compliance UK
D2R-Collect extended practical Debt Management experience in the United Kingdom has labeled D2R-Collect system as LPCA (1) ready, this feature allowed our clients to confidently charge the related compensation and statutory interest. Our Governance team, continuously probe the latest LPCA regulations’ and compliance with our clients around the world based on the applied debt management laws and regulations (i.e. United Kingdom (UK), Canada, USA, EU).
The Late Payment of Commercial Debts (Interest) Act 1998 along with its latest regulations update of 2002 and 2013 is an Act of the United Kingdom Parliament enabling businesses to charge other business customers interest on overdue accounts and to obtain compensation. Geographically, the Act extends to England, Scotland, Wales and Northern Ireland.
D2R-Collect automatically calculates the charges as per amount without any additional work.