I agree with Robert. What I do in my billing is this. I bill monthly, the companies that do not pay me on time will get a 10% penalty fee. The 10% penalty fee is stated in our invoice with the term of payment.
We have not come across any problems lately, excpet 2 companies which we have to force the 10% penalty, as we are a company and we also need to pay our abstractors just like they have to pay their employees.
If we all include the 10% penalty in our invoices and state that it needs to be pay within the 30 days, these companies will get the idea and be discipline in paying us on time. So I suggest the association to think about it.
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