As much as we understand the frustration that late payments create, we feel that it is highly questionable, that the shipping community will accept this kind of extra charge.
Too sad that carriers have to go such a way and that the customers do not understand that payment in time is essential, especially at today’s times with minimal seafreights.
14 December, 2015
Interest on Late Payment of Invoices
Dear Valued Customer,
Following an initial announcement in April of 2015, we would like to inform you that APL will be charging interest on delayed payment of all invoices which are issued by APL on or after 1st January 2016.
The charge is in accordance with the EU directive 2011/7/EU (as executed in § 271a of the German Civil Code). The interest for delayed payment would be calculated after the invoice has been paid.
We will be charging interest at the rate of 8.17% per annum and in addition to the interest we will be recovering an administration fee of a maximum of €40 per interest invoice.
We will be issuing one interest invoice every fortnight and that would cover interest on all invoices paid in the previous fortnight. We kindly request that you forward this message to your Accounts Payable team for full visibility.
Should there be any uncertainty about your current payment terms, please inquire with your APL Sales Representative for clarification. We thank you for your understanding and your ongoing support of APL.
APL Co. (Germany)
Zweigniederlassung der APL Co. Pte Ltd Singapore
Commercial Head – Germany and Central Europe