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> You can try setting late payment penalties, but my experience has been that client procurement and legal people get those stripped off routinely. That at bes
by subhobroto 8y ago
> You can try setting late payment penalties, but my experience has been that client procurement and legal people get those stripped off routinely.
That at best. others just "forget" about the late payment penalties in my experience.
The sibling comment from @mrhappyunhappy is interesting but when I tried it, clients would rarely pay the premium.
- catherd 8y agoLate payment penalties are nice, in my experience, because it gives you an extra drum to beat when you are chasing down payment. But they are never actually paid. I just try to identify anyone who has an accounting (+20%) or purchasing (+50%) department and automatically add to my quoted fees. That premium, the imaginary late payment fee, and occasionally stopping work until the client gets caught up generally makes the situation manageable.