Late Fees
Out of context: Reply #4
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- Spookytim0
I have an accumalting 15%pcm for late payments. t first I policed it rigourously and made clients pay it as punishment. It got nasty but I always, always won. Trouble is I lost clients becuase of that. One huge client told me they would never work with me again for example, and my crime was simply forcing them into paying me what they contractually owed me. So even though I won the fight, I lost becuase they got pissy about it.
Now, I still have that clause in my contract, but I use it to get them to take action and pay me on the amount, so its like a threat, and I play the game of saying I'll let them off if they settle up.
If a client really repeatedly offends me with tardy payments though I make the decision not work with them any more and so collect my late fee.