GB
A price agreed before the work is not renegotiated by deciding to pay less afterwards.
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These are the figures your country actually sets, not an average.
Late-payment interest
11.75 %
section 1 of the Late Payment of Commercial Debts (Interest) Act 1998; rate set by article 4 of the Late Payment of Commercial Debts (Rate of Interest) (No. 3) Order 2002
Fixed compensation
£70.00
Fixed sum — LPCDIA 1998 s.5A