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9 minutes ago, Elena Delle Donne said:

 

unless i feel like being nice, i let this happen once. after that, our agreement for any new work comes with my late payment clause.

 

my standard late fee is +10% of the amount owed after 30 days of delinquency. and it can be re-applied every 30 days. it's savage. 
 

since imposing this, i have always been paid on time. 

 

I have entertained the thought of this 10% late fee.  I am pretty much at the point with this customer, where I am forced to COD.  Gotta pay to play.  All other customers pay on time.  

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everyone gets to choose how to run their business but most of my clients were big companies that could afford to pay in full when due. if they're paying late, it's because they wanted to. hence that bear trap late fee. 

 

a late payment clause can also be negotiated. 

Edited by Elena Delle Donne
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Or for this particular client you could double your price and collect 50% as a deposit. Fuck them anyway. Or better yet take payment up front and then make them chase you down for 5 or 6 months to get their product.

 

This job I'm working on right now, they tried to stall on my first draw. I told them no problem and I will come back to work when ever they get their issue sorted out. Crazy how these end of the world red tape problems resolved themselves first thing the next morning. 

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11 minutes ago, Elena Delle Donne said:

everyone gets to choose how to run their business but most of my clients were big companies that could afford to pay in full when due. if they're paying late, it's because they wanted to. hence that bear trap late fee. 

 

a late payment clause can also be negotiated. 

 

I agree, oil and gas have the money to pay in full. For the most part.  The thing about the oil and gas motors, is when they say they are gonna pay net 60, 90, 120, then that's when they pay.  The problem is all these other companies working for them think they can adopt the same pay periods.  Which I laugh at and bring up the grocery store anology.   

 

Now, don't get me wrong, some of these companies can't pay when nothing is coming in.  Keep in mind the oil majors control the faucets too. So it can get tough for some companies cash flow.  

 

But that's not the case with my customer, I mean the company has been around since 1908.  That tells me you should have your things in order.  So I am guessing they are paying when they want like you mentioned.

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15 hours ago, One Man Banned said:

 

Sometimes when I have a good stream, like breaking the seal on some beers, I'll start pissing and then start moving back from the bowl to see how far away I can get.  Or I make an O with my thumb and finger and pee through the center.  I piss while dropping monikers.  I piss and walk at the same time.  Partying like it's 2023.

Huge priority for me whenever possible. The piss walk. I’m kind of known for it. 

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18 hours ago, ndv said:

What would 12oz do?

So, I have this customer that orders 10 nameplates once a year.  PO is 680 bucks.  That's it, that's all.   I always come through when they need it, but I have to chase my money for roughly about 6 months. 

I basically have to threaten them to get my money, 1. I shouldn't have to and 2. It's just bad business practice.  

I am considering on dropping them.  Would you?

 

I would like to purchase drugs from you if you're selling.

 

It's a pretty simple business model- they pay you, you provide service.  No pay, no service.

 

 

Or keep running your shit like this:

 

 

 

 

 

 

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21 hours ago, ndv said:

 

I agree, oil and gas have the money to pay in full. For the most part.  The thing about the oil and gas motors, is when they say they are gonna pay net 60, 90, 120, then that's when they pay.  The problem is all these other companies working for them think they can adopt the same pay periods.  Which I laugh at and bring up the grocery store anology.   

 

Now, don't get me wrong, some of these companies can't pay when nothing is coming in.  Keep in mind the oil majors control the faucets too. So it can get tough for some companies cash flow.  

 

But that's not the case with my customer, I mean the company has been around since 1908.  That tells me you should have your things in order.  So I am guessing they are paying when they want like you mentioned.

 

i just read that keurig dr pepper uses an RFP that has net 360 payment terms. that means they're telling people "yeah we're not paying for a full year after you deliver. deal with it." 

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2 hours ago, Elena Delle Donne said:

 

i just read that keurig dr pepper uses an RFP that has net 360 payment terms. that means they're telling people "yeah we're not paying for a full year after you deliver. deal with it." 

Coming in with some breaking news. I looked it up and the article I read was published “4 minutes ago”.

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Jesus tits. I can't imagine a world in which a customer dictates payment terms. I understand to a certain extent paying at a maximum 2 weeks out for book keeping reasons, so you aren't spending every day all day cutting checks. But net 360? Lolz. Who evers agreeing to this shit is already well established and doesn't need the business but wants to add another notch in their belt. 

 

Nothing would make me happier than to see all companies say "get fucked, I don't care if anyone drinks your shitty coffee or not."

 

*Sips Dr.Pepper from the new BD energy bottle

Edited by mr.yuck
So that years from now I look like a little less of a dipshit
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That's one of the issues small business owners face, they just suck it up and take it.  They get paid when they get paid, and some of these people think that's how business is done. 

 

This is pretty much the reason I asked my question in the first place.  I mean, I pretty much already had my mind made up for this customer and let them go.  I just wanted to get a general consensus from you all which I had a feeling the answer already lies in the question.   You all basically validated my thoughts what to do with this customer.  

 

I mean, the thing is, if you break down $680 on a net 360 that's $56.6666666667 a month.  At 57 bucks a month, that doesn't really pay for anything in business terms and not to mention factoring in inflation.  

 

With the math being said, I can spend less time in pursuing other financial goals than the energy and time it takes to have to stop what I am doing to go chase down 680 bucks for months on end.  The smart thing to do is to cut my losses and invest my time and energy in something more rewarding.  

 

I appreciate all of y'alls input, sounds like we are all on the same page.  

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10 minutes ago, nicklesndimes said:

yep. next time i won't try to reason with em, they don't do reason very well.

 

Also for future reference don't ever admit to doing anything wrong. They don't give a fuck about reason. It's how innocent people end up in prison for life.

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