If a scheduled payment is missed or arrives late, the first thing that happens is we try to reach you. Our aim is to understand what has happened and get the facility back on track, not to penalise a company that is communicating with us.
The usual sequence
- We contact you to let you know a payment was not received and to check whether it is a timing issue or a cash-flow problem.
- A late or missed-payment charge may apply, but only where your agreement provides for it, and only on the basis set out there.
- If the missed payment continues, interest or charges may keep accruing on the outstanding balance under your agreed terms.
What you should do
Tell us early. If you know a payment will be late, contact us before the date rather than after. We can often agree a short-term arrangement that avoids escalation. The worst outcome is silence, because that limits the options available to both sides.
Important context
This is a facility to your company, and no personal guarantee is taken from directors, so late payment is handled at the company level. Because the lending is exempt and outside the FCA consumer-credit regime, the Financial Ombudsman Service and FSCS do not apply — but we still handle arrears fairly and proportionately.
See also: How do late-payment charges work?, What is a late payment charge?, What happens if a Slice instalment is missed.