Law firms are having to wait over three months on average to be paid for their services - more than twice as long as most other businesses - new research has shown.
August 31, 2014 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Law firms are having to wait over three months on average to be paid for their services – more than twice as long as most other businesses – new research has shown.
The average period between a bill being issued and payment being received last financial year was 94 days for solicitor firms, according to finance provider LDF. This compares with a UK average of 41 days as calculated by the European Payment Index – a yearly survey of companies across Europe.
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