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Payment Terms Extended

Carlsberg has thrown its suppliers into a panic by leaving invoices to brew for more than four months before paying up for goods and services. The Danish beer giant has changed the terms for paying suppliers to 95 days from the end of the month in which an invoice is sent, compared with previous terms of around 30 days. The Forum for Private Business said that means companies could be waiting for more than 120 days before Carlsberg settles a bill issued early in the month. Matt Goodman of the FBP said "A small firm delivering a major order to Carlsberg could easily go out of business with cash flow problems while waiting for the money owed to it".