21 SEPTEMBER 1996, Page 42

Authorised delay

Sir: Christopher Fildes says (City and sub- urban, 7 September) that only a brave exciseman would dun Arnold Weinstock for overdue payment of VAT. Indeed. When he took over at GEC, one of the first instructions to land on the desk of every manager in the group was that hence- forth no supplier or subcontractor would be paid in less than 90 days, and this was then embodied in the fine print of conditions of purchase with every order. Quite soon, '90 days' was regarded as prompt payment and `100 and plenty days' the normal terms of trade.

Kim Ash

58 Trafalgar Place, Sandhurst