We have had a late-fee clause built into our standard Client Services Agreement almost since the company's inception.  As a practical matter, I've never had to enforce it, but it's one more tool I have at my disposal to encourage my delinquent accounts to pay up.

If there's one thing I learned from my Contract Law classes, it's "get it in writing".  As a general rule, I won't process orders without a signed written agreement in place.  I figure if they give me grief about signing my Agreement, they'll do the same when it comes time to pay.  I'm sure I've lost business because of that, but I place a high value on my work product and on my company.   I, for one, won't work for "just anybody".

But, that's just me.

Regards,
Scott L. Perry, President
Jireh Business Information Solutions, Inc.