What are your experiences in setting deadlines for payments?
Thread poster: Mike Osman

Mike Osman  Identity Verified
United Kingdom
Local time: 23:54
Member (2013)
English to Somali
+ ...
Jun 3, 2003

I am getting a bit tired of having to wait long periods of time for payments for jobs that I have finished and returned in good time.
I was thinking, I should set deadlines for my payments whatever the clients policy is.
I would like your opinions on the subject, please tell me of your experiences whether negative or positive.

Thank you in advance.

Mike


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xxxMarc P  Identity Verified
Local time: 00:54
German to English
+ ...
Setting deadlines Jun 4, 2003

I have never negotiated deadlines for payment. But most of my customers are located in Germany, where companies generally pay fairly promptly anyway, and because most of them do so, I can afford to wait a little longer for those that don't.

In fact, generally, I don't mind waiting longer as such. Certainly there is no point complaining when the customer has made it clear from the outset that they only pay after 60 days, or whatever. I often hear the comment about particular agencies, in particular, that they are "slow payers but otherwise a good customer", so I presume many colleagues feel the same way. What I would object to is having to chase customers in order to get paid at all.

My advice is: if prompt payment is important to you, negotiate deadlines for payment when you accept an order, and if your customer doesn't observe the agreed terms, simply stop working for them.

Marc


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Ralf Lemster  Identity Verified
Germany
Local time: 00:54
English to German
+ ...
Enforcing deadlines Jun 4, 2003

My advice is: if prompt payment is important to you, negotiate deadlines for payment when you accept an order, and if your customer doesn't observe the agreed terms, simply stop working for them.

Marc, I couldn't agree more.

Best, Ralf


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