BT have been overcharging everybody for years.
BT to pay £22m in interest to rivals in ethernet overcharging case
BT has been ordered to dig into its pocket and pay rivals £22m in interest following its overcharged for its backhaul ethernet services between 2006-2011. In December 2012, BT was ordered to pay Cable & Wireless Worldwide (now Vodafone), Sky, TalkTalk, Verizon and Virgin £95m after it was found to have overcharged its British …
COMMENTS
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Friday 5th May 2017 12:35 GMT Lee D
Re: Where's my cut?
You weren't overcharged. You agreed to a price and contract and paid it to those third-parties.
Any refund would have come from those companies direct because your contract would have guaranteed it and was much more clear-cut. Or you had no refund owing whatsoever.
This is those companies recouping anything they may have had to refund you (likely zero given most of the guarantees on those circuits) and the interest on them being out of pocket during that time based on their contract. Not you recouping from them based on yours.
As always, your contract is with the company who supplied you, not the underlying contractor they choose to use. Otherwise you'd be in a whole heap of trouble because no end of shouting would ever fix your problems and they'd just tell you "talk to BT, nothing to do with us, oh by the way you owe us this month's payment".
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Saturday 6th May 2017 22:08 GMT John Smith 19
Interest rates for business debts (which this is a form of) are set by statutory rules in the UK
But if some of those disputes run back a decade it mounts up.
Damm right companies should exercise their rights to charge such interest. Effectively BT have treated this as an interest free loan IE free cash.
BTW in the business debts payment lead the UK is the 2nd slowest, Only Italy pays slower.
But on the upside post Brexit the UK will be in a league of its own on business bill payment.