View Full Version : A late fee of 10% is applied to balance every ten (10) days until balance is paid.

Fresh Cut
03-31-2010, 11:05 AM
"A late fee of 10% is applied to balance every ten (10) days until balance is paid."

I just added this to a bid proposal that I'm typing up for a daycare. I already got both of their properties, but I initially bid the first one, got it, and then asked if they had someone doing the other. The owner told me to give her an estimate on that one too. We agreed on a price and I told her I'd type up another bid proposal and include both properties on it.

Anyway, Y'all think the above is worded well enough? I'm printing it now to take to her, but I want to know for future reference.

03-31-2010, 11:55 AM
I dont know to much about contracts but as long as there is a clear past this date it is late then looks fine to me but again I have little experience with contracts.

03-31-2010, 12:30 PM
I like it!

In fact, if she so happens to be scared of the additional late fee, she's most likely not worth your time.

For every 10 days she doesn't pay, take pieces of her playground away... just kidding, lmao.

I can imagine that... The kids have no toys to play with... All of it is sitting in your backyard... HAHAHAHA!!! Weeeeeeeeeeeee!

03-31-2010, 03:21 PM
10% every 10 days? That sounds a bit excessive and may be unenforceable. I remember reading something about late fees being capped but I can't remember where. I'm sure it depends on your locality.

03-31-2010, 03:29 PM
I charge 5% every 15 days that are late for payment. I stop the work after 15 days then the 5% comes in effect

04-01-2010, 03:05 AM
"A late fee of 10% is applied to balance every ten (10) days until balance is paid."

You can include whatever it is you want, but when you look around, have you ever seen anything like this anywhere else? I can't remember seeing it anywhere. The problem with doing things that may appear excessive is that you can scare potential customers away.

Are there better ways to deal with late customers? If they are problematic, could you bill them sooner? Could you bill them at the beginning of the month instead?

Could you get a credit card?

What made you want to include this? Was there something that happened that initiated this?