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Old 01-07-2000, 06:20 AM
SLSNursery SLSNursery is offline
LawnSite Senior Member
 
Join Date: Dec 1999
Location: West Haven, CT
Posts: 442
It is important to establish and maintain a credit and collections policy for customers of all types - residential, commercial, friends, relatives, etc. We state (and they sign upon acceptance) that invoices are due upon receipt, billing period is 30 days, 1 1/2% interest charged on balances over 30 days from date of invoice, etc. This is sometimes difficult to do, but it pays off in the long run. The policy should be presented to customers when they sign a contract for services or when they purchase something, like at the bottom of a point of sale receipt. And, you should invoice regularly - that is if you bill every thirty days, then stay on schedule.<p>I explained in an earlier post that courts don't accept or collect on arbitrary finance charges or fees. So even though you don't expect to or may not want to collect the finance charge, you may not legally be entitled to it, and that could cause problems down the road with a customer who decides not to pay or to break it off on you. <p><p>----------<br>Phil Grande - Soundview Landscape Supply - http://members.aol.com/slsnursery<br>Ivy League Landscaping - http://members.aol.com/scagrider
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