Payment reminder

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You should send a payment reminder a few days after the due date on the invoice. The reminder should state that the invoice is overdue and no payment has been received.

Keep the tone of the reminder friendly. It may be that the invoice has been paid without the payment having been registered.

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Penalty interest

You have a statutory right to claim interest on late payment, as well as a contractual right to claim interest if you have specified this in your terms and conditions. If you have agreed on an interest rate, it will start from the agreed payment day. If you have not agreed on a specific interest rate, it is 8% plus the relevant reference rate and it will start 30 days from the payment day. 

However, if you have agreed upon a shorter credit period with a higher rate of penalty interest as from the payment due date, you have the right to apply penalty interest accordingly. 

This can result in some customers paying a number of days before the payment due date in an effort to avoid incurring unnecessary costs.

How to calculate interest payable

You can calculate the interest payable on overdue bills by taking the relevant reference rate and adding 8%. The reference rate is determined every six months by Riksbanken.

You can charge interest on all late payments. However, even if you indicate in your terms and conditions that you will charge interest on all late payments, it is your decision whether to actually do so or not. Make sure invoices include an agreed payment date so customers know when interest will start being charged.

Read more about reference rate at Riksbankens website

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Payment reminder

If you have an agreement on a payment reminder, you have a right to a fee of SEK 60 if sending a payment reminder in the event of non payment. You have a right to SEK 180 in case of sending a debt recovery demand and if setting up a repayment plan a right to SEK 170.

Purchaser does not pay

In case the purchaser is unable to pay, you can turn directly to the Swedish Enforcement Authority from who you can receive help to establish the debt. This is done through an application for an order to pay.

Read more about this at the Swedish Enforcement Authority´s website

 

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