Re: 30 days Net
Posted by Deborah Enos on January 04, 2002 at 20:03:05:
In Reply to: Re: 30 days Net posted by Elaine on January 04, 2002 at 13:44:04:
: : I am getting tired of having to ask for my $$$ by day 40 or 5o. I have a great customer who places large and frequent orders..BUT..I have to fax and ask for my $$$ every single time. I give 30 days net and they pay (if I ask) in 40-55 days. This is getting tiring and I need another strategy. I will be going to BMAC in Feb and I want to be able to handle this when I get orders from old customers who are bad at paying. Someone suggested I ask for a credit card to be billed if no $$$ is received by day 40...BUT..I know this will scare off customers..suggestions?
: I would ask for a credit card if no payment is received by 40 days or maybe let them know that in future orders a certain % will be added each day payment is late. I use to do custom work for a museum and they were always late- I stopped doing work for them. I really don't think it is fair to an artist to hold up their paynment.
I have to agree with Elaine, I have stopped doing business with stores that don't pay in the 30 day net time period UNLESS they have contacted me with a reasonable excuse for being late, this last year was my first experience with stores that were unable to pay on time although they had a long history of paying always on time, and due their health issues things had gotten behind, so that was certainly understandable from my perspective, we all have had our troubles at one time or another and a little breathing space is sometimes all that is needed, since than they have paid on time and on target. My other experience was with a store that set out to hussle me out of the money and I simply called the Better Business Bureau, their local Chamber of Commerce and they soon paid. Fortunatly I have not had too many of the experiences, I do tell all my new stores that if the invoice is not paid on time they will need to expect COD from that point onward, and no new merchandise will be shipped untill the old bill is paid, hope this helps.