Your thoughts on speeding up payouts???

[tommu56]

When I use to work for another big company (read late payer) one of the contractors we like to use would consider this in their quote
He always said to me verbally he added about 10% to cover his interest, if we were late.They did all ways pay in 90 days he said if they paid earlier he wouldn't have a problem with the extra $.

So price your jobs to include the "interest" and see if they complain.

tom

 

[Kays Supply]

I tried the late fee option and when they finally paid, they didn't include the fee, just the original amount. Thanks all for letting me whine. You guys have at least listened and gave constructive comments.

 

[LoneCowboy]

I tried the late fee option and when they finally paid, they didn't include the fee, just the original amount. Thanks all for letting me whine. You guys have at least listened and gave constructive comments.

send them a bill along with a statement that only partial payment was made and they still owe..............

depends on if you still want them as a customer

sometimes you just want the money
sometimes, they really irk you and they deserve it

usually I just write it off

but next time they call me for work, I add it back in to the price.
I will get my late fee.

 

[Kays Supply]

LoneCowboy, You pretty much hit it on the head. I pretty much agree and do the same as you in this situation. If you piss them off, you will never get the chance to hide in the balance due.

I just got my second bounced check from the same contractor that started this thread. I now have to add two fee charges to his account on the next job on top of a few extra bucks just for being so darn slow.

The thing that just blows my mind, is that he is going to pay for the next job coming up in full in advance. The part that really blows my mind is that he volunteered before I even asked. Ain't life crazy!