There's a cultural aspect to this too. In some types of business, putting late terms in contracts and hassling customers for payments is normal. In other type

There's a cultural aspect to this too. In some types of business, putting late terms in contracts and hassling customers for payments is normal. In other types, quietly putting up with late payment is normal. In those cases, as a vendor, you factor the likelihood of late payment into the price. For repeat customers, it turns into a game of tit-for-tat. For one-offs, it's harder.