What's new
Automatically apply late payment fees
Businesses have had the legal right to charge statutory interest and fixed compensation on overdue invoices since 1998. But for many teams, the calculation and admin have made it hard to justify the effort.
You can now apply late payment fees automatically with Adfin.
When enabled for a customer agent, Adfin can apply statutory interest and fixed compensation once an invoice passes your chosen grace period. The payment link updates as interest accrues, and a separate invoice is created in your accounting software.
You stay in control:
- Enable late payment fees for specific customer agents
- Set a grace period before fees are applied
- Waive fees where needed
With late payment reform gaining momentum in the UK, this gives your team an easier way to apply fees consistently and reduce the admin involved in overdue collections.
Good to know: fixed compensation is routed to Adfin. Statutory interest accrues to you.
👉 Turn on late payment fees for an agent here