you have to be patient in this Industry. I have net 30, but I do not really enforce a late penalty unless they are almost at 2.5-3m late. I do have late penalties and I do state that if it goes to court, they will pay for all costs involved. Never have I had to do that and I have only issued a late penalty once in the last 10 years
What is your policy for payment, NET 30? NET 60? or even higher? and do you have late fees if not paid on time?
you have to be patient in this Industry. I have net 30, but I do not really enforce a late penalty unless they are almost at 2.5-3m late. I do have late penalties and I do state that if it goes to court, they will pay for all costs involved. Never have I had to do that and I have only issued a late penalty once in the last 10 years