Construction and trade businesses often wait a long time to be paid. Invoices sit on payment terms, retentions build up and a main contractor or client can slow things down without warning. When money is owed, you need a clear route to get it back. Recovia Ltd is a UK business-to-business commercial debt recovery agency that recovers unpaid invoices owed by businesses, including those owed to contractors and trades.
Why invoices go unpaid in the trades
Many contractors and trades invoice on agreed payment terms, often thirty days or longer, and some of those invoices are passed up a chain of main contractors and clients before payment is made. A missed date can quickly become a cash flow problem, especially for smaller firms that depend on a few large jobs. Disputes over work, variations or completion can also be used as a reason to hold payment. Keeping a clear record of what was agreed, when work was done and when invoices were sent makes any later recovery far easier.
What the law says about late payment
Where no payment date has been agreed, a payment is generally treated as late 30 days after the invoice or delivery date. For business-to-business debts, statutory interest is 8% plus the Bank of England base rate, unless the contract sets a different rate. A fixed sum can also be added once per payment, on top of interest: £40 for debts up to £999.99, £70 for £1,000 to £9,999.99, and £100 for £10,000 or more. Where applicable, Recovia adds statutory interest and late payment compensation to the debtor's balance. Please check the position for your own contract, and for Scotland, before relying on these figures.
How Recovia works with you
Cases are actioned within 1 working day of receiving the files, often the same day. We contact debtors personally and, where it helps, arrange field visits. Every case is managed and assessed individually, so the approach reflects the size of the debt, the relationship and what is likely to work. Debtors can pay online through our debtor portal, and you can follow progress through your client portal. Read our guide to the letter before action.
Our fee and how we approach court action
Our fee is no collection, no fee on suitable cases. We only recommend court or legal action once other options have been exhausted and recovery is likely. You are under no obligation to take that step. Recovery is never guaranteed, but we will be clear with you at each stage about what we are doing and why.
Frequently asked questions
Do I have to pay Recovia upfront?
Our fee is no collection, no fee on suitable cases. Whether a case is suitable is assessed individually when we receive the details.
Can I claim interest and compensation on a late invoice?
Where applicable, Recovia adds statutory interest and late payment compensation to the debtor's balance. The amounts depend on the contract terms and the size of the debt, so please check your own position.
Will you take legal action straight away?
No. We only recommend court or legal action once other options are exhausted and recovery is likely, and you are under no obligation to take that step.
How quickly will you start on my case?
Cases are actioned within 1 working day of receiving the files, often the same day.
If a main contractor or client owes your business money, send us the details. Visit www.recoviaholdings.co.uk, email contact@recoviaholdings.co.uk or call 01527 369593. Lines are open Monday to Friday, 08:00 to 20:00.