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Late Payment of Commercial Debts (Interest) Act 1998: Primary legislation governing late payments in commercial transactions, establishing statutory interest rates, compensation for debt recovery costs, and defining when payments become 'late'

Late Payment of Commercial Debts Regulations 2013: Implementation of EU Directive 2011/7/EU into UK law, covering maximum payment terms, verification periods, and automatic entitlement to interest

Limitation Act 1980: Sets time limits for bringing claims and establishes statute of limitations for debt recovery actions

Consumer Credit Act 1974: Regulates consumer credit agreements, including consumer protection provisions and credit agreement regulations when dealing with individual consumers

Unfair Contract Terms Act 1977: Controls reasonableness of contract terms and places limitations on exclusion clauses in contracts

Consumer Rights Act 2015: Governs fairness and transparency requirements in consumer contracts, particularly relevant if the late payment agreement involves consumers

Common Law Principles: Established case law and principles regarding contract formation, enforcement, and remedies in English contract law

Debt Recovery Procedures: Legal procedures and requirements for recovering debts under English and Welsh law

Interest Rate Regulations: Rules governing the application and limits of interest rates in late payment scenarios