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Knowledgebase: Invoices
Getting paid - reasons why payment is delayed
Posted by Aleks Mladenovic on 12 December 2007 02:34 PM

If payment has not been received before or on the date that was specified in the order / invoice, DO NOT start jumping up and down and blaming everything and everyone, there is generally a perfectly good explanation.  Some of the more common reasons are listed below:

 

  • Misunderstanding / Misinterpretation about payment terms.  There is a difference between NET 30 and NET monthly.
  • You may have forgotten to send the POD
  • You may have sent the POD and forgot to insert the invoice 
  • The invoice cannot be read correctly (smudges for example)
  • The details on the invoice are in dispute
  • The invoice may be missing vital information such as 'who to make cheques payable to'
  • The member may be experiencing cash flow problems

 

There can sometimes be a more serious reason as to why you haven't received payment, these may be one of the following but not limited to:

  • They are holding on to your money as long as possible to earn interest or improve the look of their cash flow
  • They have no intention of paying you
  • They have serious finiancial problems and are about to or are in the process of going into liquiadation

If you have done everything in your power to get your payment, the job was confirmed through the exchange and it is at least 4 weeks after the payment due date, then you can use your right to complain (see complaints).

We cannot guarantee to get your payment for you, but we can lean on the member and potentially suspend or close their subscription.  Unfortunately if the member has left the exchange or have oing / are going into liquidation then you have a very slim chance of getting what you are owed.  This is always a risk and you should have a contigency to write off at least 5% of any monies owed.  (Getting paid - before you start)

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