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by Michon on June 12th, 2008

Michon

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I have a small business. One of my clients has an invoice that is 21 days past due an one that is 51 days past due. my invoices state payment is expected within 15 days of the invoice, can i charge them a late fee and interest penalties?

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Answers. 1 helpful answer below.

  • by Yarnlady is happy every day on June 12th, 2008

    Yarnlady is happy every day

    Late fees and penalties have to be mentioned on the invoice or purchase order. If you say Payment within 15 days or penalty will be charged, that would work. I have also seen payment 0 - 15 days as shown, 15 - 20 days add 5%; 20+ days add 10%.

    If there was no previous agreement to pay interest and penalties, add it on to the past due notice anyway. They still might pay.

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