In a message dated 1/5/00 10:41:09 PM !!!First Boot!!!, harlip58@yahoo.com writes: << I am a piano technician in Great Neck, NY, servicing homes, schools, churches and organizations, ie. theater groups, arts councils, etc. When I tune for schools, churches or theaters I have to send or leave bills for services performed and wait for payment. I am considering printing payment terms on my bills, specifying a time frame and a penalty if that time frame is not met. What are generally accepted terms in the piano service business? >> 18% per year, prorated at 1.5% per month. Or you can charge a late payment fee of $5.00 if payment is sent after 30 days. I once gave a $5.00 discount to those who sent in the payment within 30 days, reasoning that if I gave an incentive for sending in payment on time, I would get the money sooner. But then I got to thinking. Why give someone a $5 discount for holding on to your money for 30 days, when people who pay on the spot don't get a discount? Although it is not a bad idea to put a late fee charge on the bill, what are you going to do if they don't pay it. On a $70 tuning 1.5% per month is $1.05. That is not worth going to small claims court. You would be much better off giving them a call, or sending them a reminder note after 30 days. If a school or church is in the habit of sending checks 60 or 90 days late, tell them you're too busy, or that you need a check before you go and tune. Don't tell them to have a check waiting. What are you going to do if they don't have one when you show up? If you know in advance you have to wait for a check, then you can budget accordingly. If you get to a point where you have too many open accounts, don't accept the tuning appointments. Just my 2 cents worth Wim
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