Invoicing and taking payment from customers, what invoices must include, VAT invoices, sole trader invoices, limited company invoices, payment options, charging for late payment, chargebacks • If the answer to the question above is no, do you have finance or a finance facility in place to bridge Some customers may expect longer payment terms for bigger bills, but you may be able to negotiate with them. When an invoice is issued to a customer a reminder is automatically added to the Business Diary. Don’t try to sneak terms through in the small print. And make sure that you don’t accidently miss them off any communication, for example by only faxing or scanning the top sheet of a quote that has your payment terms on the other side. We structure our pricing to provide the lowest possible cost to our customers. Terms: Enter a … Payment Terms and Payment Runs It is VERY common to have only 1 or 2 payment runs a month. In turn, we do it to our suppliers. We suggest that you use the following Letter Template to submit your new Credit Applications and disclose your new Terms & Conditions of Trade to your existing recurring Customers. However, if customers do not pay promptly, it can place a considerable strain on your business as the income you need to run your business is delayed. • Do you confirm the agreed payment terms in writing before you accept (or place) an order? Letter to Existing Customers with New Terms & Conditions of Trade Uncategorized 3/09/2013 by Sam Roberts Thank you for ordering a TradeSafe Contracts Package. Make your payment terms and conditions totally clear to your customer before you do business with them. SAMPLE LETTERS FOR CHANGING TERMS . Close to 75% of invoices ask for payment within 2 weeks, so expectations are changing. Change to COD: Thank you for the recent payment, which brings your account to “current” status. Setting suitable payment terms for your customers Some businesses offer certain levels of credit to customers - ie supplying goods or services to customers before taking payment. For example, an invoice dated 10 January with payment terms of 14 days appears on the Business Diary on the 24 January. The reminder appears on the invoice due date. • Do you negotiate payment terms with your suppliers that allow you longer to pay than the terms on which you are paid by your customers? Payment terms are getting shorter You needn’t feel bad about giving shorter invoice payment terms. We administer this from 3 shared service centres in Europe, the Americas and Asia. My company gets this from our customers.