Contract and late paying customers

[mcmav101]

What are your contract terms? How much interest would you charge a late paying commercial customer? How long of a time period do you give a customer to pay a bill?

[mcmav101]

I am looking for an answer to this main question? Do any of you charge a late fee per week per month on a non paying customer?

[l&r]

You could charge a late fee, but if they didn't pay the original bill they probably won't pay it with intrest. When I run into that problem I go talk to that customer and see if we can work something out If not, I tell them I'll have to fill that spot with someone else