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

Mike Osman  Identity Verified
United Kingdom
Local time: 17:07
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


 

xxxMarc P  Identity Verified
Local time: 18:07
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


 

Ralf Lemster  Identity Verified
Germany
Local time: 18:07
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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