OVERDUE INVOICES
Out of context: Reply #8
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- letters20
There are threads on here about this very topic, if you have a look around.
always get paid in installments that correlate to the work being down and its phases.
and also, have late payment fees on your contracts.
overall, 3 months is not that bad. Out here, 60 days is the standard, and 1 month late is not too drastic.
. . .
as for this comment below:
"Final payment of the balance must be made within 30 days of agreed completion of this project. Any additional delay in payment will result in charges of £30 per month being levied in late payment fees."
Make up whatever you want in terms of charges etc.
jamble
(Apr 5 07, 02:27)30 a month for a late fee?! are you kidding me... it should absolutely be a percentage of the total (I use a 2% overall increase for each month late, rolling).