Let's say you go to a store

[HeavyMetal]

and you choose to buy something.

This something costs you ~800 dollars. Naturally in exchange for this product or service, you pay 800 dollars, whether that be by cash, debit, check, credit card, whatever. Upon paying, you are now legally allowed to walk away with said product.

As far as I know this is common practice at least in this country's culture.

So why is it that when I invoice a company or person, and deliver the product and/or service, they almost never pay in an expedient manner? Some even comment I expect too much! My payment terms in every invoice I send out read this:

*If payment is not received/sent/postmarked via one of the methods listed below by the assigned due date, an interest charge of 3% per week will be assessed until full payment is received.

The assigned due-date is often 1 full week or longer later. 1 week to pay for something, in any way. 80% of the time the due date comes and goes with no money.

Chasing clients has become part of the job now as a regularity. are people really this retarded this day and age that 7 days is too tight of a time frame to pay for something you want Now?

[Ruepart Hoaxley]

no one expects to have to pay for something when they recieve it. my dad had the same issue when he ran a garage, he was nice enough to do several jobs for people on the honor system because they were in trouble or had an emergency of some sort. one guy took two months to pay for a belt. a BELT.

i feel your pain man.

[crosbike]

Im just lazy and get my bills taken direct from my bank accounts. I doubt it'd help but maybe a 2 week period is better. I know that a week can go by damn quick for some people but it is definitely not unreasonable.

[Mike]

simple. dont give the product away until you receive payment.

[HeavyMetal]

simple. dont give the product away until you receive payment.

doesnt work that way if your service revolves around the client visually approving things and file format compatibility

[Mike]

put giant watermarks over everything that way they cant use it till they pay you and its useless with the watermarks

[Krazors001]

simple. dont give the product away until you receive payment.

Kind of hard to do in the service industry. What happens when a job costs more than the estimate and it is paid ahead of time? Do you just soak up the extra cost and say whoops?

[Pedro]

I would do a two week pay period, but up the interest from maybe 3% to 5%. It gives them a little more time and maybe a little more motivation to get it done earlier.

[CumminsJeep]

People suck. That happens at work all the time. People drop off equipment than after 6 months of calling them cause its done, the thing is still sitting in the back

[DrThunder]

Upon paying, you are now legally allowed to walk away with said product.

makes sense

[HeavyMetal]

well FWIW, the pay period isnt always 1 week, that was just my shortest time span

for example, quadratec is "net-30" meaning full payment within or on 30 days

[WBkrazy]

one of my friends dad has a sign in his shop that says "try our easy payment plan: 100% down, nothing to pay ever again!"

[Nick]

I would do a two week pay period, but up the interest from maybe 3% to 5%. It gives them a little more time and maybe a little more motivation to get it done earlier.

its gonna be hard to collect interest from people if they won't even pay their bill. Theres really not much you can do besides sending them a demand letter from an attorney next, which is really just a formality for eventually taking them to small claims court.

[HeavyMetal]

its gonna be hard to collect interest from people if they won't even pay their bill. Theres really not much you can do besides sending them a demand letter from an attorney next, which is really just a formality for eventually taking them to small claims court.

Also not a great way to keep a client relationship...

[Nick]

Also not a great way to keep a client relationship...

heres the steps I would take

1. Send initial invoice
2. 2 days after its due, call and ask if they mailed the check, call every few days that you dont get the money
3. If it persists, send a letter just asking for your money without any "officialness" to it
4. Send a letter from a lawyer
5. Either say screw it, or go to small claims