Loading…
24
PSA: I used to shake hands on vendor deals, now I make every one sign a $500 late fee clause after getting burned in Austin
A guy I'd worked with for 3 years stiffed me on a $4,200 invoice in 2022 so now every contract I sign has a set payment date and a penalty attached, and I haven't chased a check since.
1 comments
Log in to join the discussion
Log In1 Comment
the_quinn14d ago
My buddy Dale had a roofer out in Fort Worth who dragged a $3,800 bill out for almost a year, always some excuse about waiting on insurance money. Dale finally got smart and started putting 2% interest per month past due in his contracts. First guy who tried to slow pay him got a bill $400 higher three months later and paid it the same day. Word got around quick that Dale was not the guy to mess with on payment. I keep a late fee in mine now too, but the real trick is the fee has to be automatic and written down, because asking for it later just starts a whole new fight.
4