A firm must pay to FOS Ltd any standard case fee or special case fee which it is liable to pay under DISP 5.6.1 R, DISP 5.6.6 R, DISP 5.6.7 R, DISP 5.6.8 R, DISP 5.6.10 R, or DISP 5.6.12 R, as appropriate, in respect of chargeable cases for which it is invoiced by FOS Ltd within 30 calendar days of the date when the invoice is issued by FOS Ltd.
The FSA will issue invoices for the general levy and any supplementary levy. FOS Ltd will issue invoices for standard case fees and special case fees. Each invoice will be payable within 30 calendar days. Invoices will be sent to the firm's Compliance Officer at the principal place of business in the United Kingdom last notified to the FSA. A firm which is liable to pay under DISP 5.8.1 R may do so by direct debit agreement.1
If a firm or an unauthorised person does not pay a levy or case fee in full within 30 calendar days of the date when the invoice is issued, it must, from that date, pay an administrative fee of £250 plus interest on any unpaid part of the levy or fee at a rate of 5% over the Bank of England's repo rate, from time to time in force, accruing on a daily basis from the date on which the amount concerned became due.22
1If a firm (or unauthorised person) fails to make payment under this chapter of the general levy and any supplementary levy to which it is subject, after the expiry of the 30 day period, the FSA may take whatever action it considers appropriate including steps to recover any money owed (with interest) and commencing disciplinary proceedings.