Comments on: https://wordsonpageblog.com/2007/07/your-late-fees-weve-talked-about-others.html a freelance writing resource. Thu, 19 Jul 2007 04:26:00 +0000 hourly 1 By: Jonathan https://wordsonpageblog.com/2007/07/your-late-fees-weve-talked-about-others.html#comment-500 Thu, 19 Jul 2007 04:26:00 +0000 http://loriwidmer.com/wordsonpage/index.php/2007/07/your-late-fees-weve-talked-about-others.html/#comment-500 Lori, interesting thoughts on late fees. I agree with the percentage idea. Flat rate fees have never made sense to me. ($10 overdue? $40 fee. $5,000 overdue? $40 fee.) The small business I work for still uses the almost antiquated NET30. Ours is a vastly different business than yours though–maybe we’re a bit sheltered.

]]> By: Lori https://wordsonpageblog.com/2007/07/your-late-fees-weve-talked-about-others.html#comment-472 Mon, 09 Jul 2007 15:52:00 +0000 http://loriwidmer.com/wordsonpage/index.php/2007/07/your-late-fees-weve-talked-about-others.html/#comment-472 I’m a freelance editor, and most of my current clients are large bureaucracies that pay on an established, glacier-paced schedule (sometimes 60+ days). No amount of cajoling or late fees will change that; late fees would be completely ignored. I know that going in and simply plan my finances around it.

For individual clients that are new to me, I require partial payments throughout the job and final payment upon delivery, so late fees don’t apply.

For small business clients and established individual clients, I do note that a late fee of 10% will be applied if payment is not received in 30 days, but I’ve never had to impose it.

]]>