Common questions about DELV and what we do…
Late Payment Compensation
My invoices are paid late - how much can I claim?
Compensation for late payment of invoices comprises both statutory interest (payable at 8% over base rate) and compensation charges (payable on each invoice) of £40, £70 or £100 depending on the gross invoice value. Late payment claims can be made up to six years after payment of the original debt.
Will the compensation be worthwhile?
Typically yes.
Our research has identified tens of thousands of suppliers, mostly SMEs, who are owed more than £10,000. Sometimes this can be driven by the quantity of invoices paid late, rather than the value of the invoice.
Please get in touch and we can give you a no obligation estimate of what you may be owed.
How have you calculated the value of compensation we may be due?
Our research has returned information on late payments by hundreds of public sector organisations. Our database of transactions enables us to identify and evaluate the compensation due to suppliers to each of those organisations. It also provides evidence to prepare, submit and negotiate claims on our clients behalf.
The Claim Process
What do you have to do?
Firstly, agree that DELV can act on your behalf in pursuit of your claim – we will share with you our terms of business before you sign up.
Secondly, review the initial claim we’ll prepare for you – we typically have enough data to start the process but you may wish to provide further detail on additional invoices or customers that we don’t hold data on, and that you would like included. You can remove any items for your claim, should you not wish to pursue these.
We will usually submit the claim on your behalf, but we may need your help to respond to any queries.
Once an offer of settlement is made by your customer, we will review this with you and obtain your approval to settle.
When payment is made to your account, we will expect you to pay our invoice with 14 days.
What will DELV do?
We will agree the scope of your claim with you (transactions and customer organisations) and calculate an initial claim value.
We will then prepare and submit your claim and deal with any queries or challenges raised.
We will agree the final amount owed and ensure payment is made. Following this we will then invoice for our services.
What if we decide not to go ahead?
You can decide not to pursue your claim at any time before the process has been started, ie before the claim has been prepared and submitted, with no obligation.
Again, this is outlined in our Terms & Conditions (available upon request).
Can we do this ourselves?
Yes – and we hope that you do!
Our primary objective is to make organisations take late payment. The only real way this will happen is if businesses claim what they are entitled to.
If you would like advice on how to submit your own claim please let us know.
About DELV
How are you remunerated for your services?
Where we are engaged to support clients to claim compensation owed for late payments our fees will be calculated as a percentage of the compensation received. There is no fee if no compensation is paid. Full details are available in our Terms & Conditions (available upon request). Rates and terms for all other work are by negotiation.
Is there an upfront payment?
No.
Upfront payments are not required. We will invoice for our work once your claim has been settled.
Are you able to recover payment for outstanding invoices that are overdue?
Debt recovery is not part of our core service but we may be able to provide access to resources which will help you recover outstanding debt and minimise the risk or such debts arising in future.