Late charge - how much? Автор темы: Zareah (X)
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Zareah (X) 
США
английский => немецкий
+ ...
I was wondering how high my late charge would be (just in case).
Is there an average late charge (X.X %)?
What\'s \"normal\"?
Thanks in advance,
Nadine
| | | | Mats Wiman
Швеция
Local time: 00:20
Член ProZ.com c 2000
немецкий => шведский
+ ...
Памяти | Personal experience and personal opinion: 1.5%/month | Jan 2, 2002 |
= 18 % per annum.
This figure is not only derived from the interest level but also includes a disturbance\' and \'hassle\' factor.
When interest levels were higher it used to be 2%/month
| | | | Ralf Lemster
Германия
Local time: 00:20
английский => немецкий
+ ...
| Depends on the country and on the currency... | Jan 2, 2002 |
...obviously, 18% p.a. would be appropriate, at least from your point of view - the question is whether the rate is enforceable. Under recent German legislation, the rate you can charge if a debtor has defaulted on payment is linked to a key ECB rate (\'default\' in this context means 30 days after receipt of invoice - the snag is that you will need to prove they received it, so realistically this means 30 days after receipt of a reminder by registered mail, unless you want to send every invoice... See more ...obviously, 18% p.a. would be appropriate, at least from your point of view - the question is whether the rate is enforceable. Under recent German legislation, the rate you can charge if a debtor has defaulted on payment is linked to a key ECB rate (\'default\' in this context means 30 days after receipt of invoice - the snag is that you will need to prove they received it, so realistically this means 30 days after receipt of a reminder by registered mail, unless you want to send every invoice that way...).
Personally, I have only once managed to actually receive an extra charge for late payment - having said that, I have dumped a few customers where the delay was not due to an obvious error, but sheer negligence.
HTH - Ralf ▲ Collapse
| | | | Zareah (X)
США
английский => немецкий
+ ...
Автор темы
ok, thank you very much - I\'ve never had to deal with late charges so I was wondering.
Thanks again!
Nadine
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John Kinory (X)
Local time: 23:20
английский => иврит
+ ...
In the UK too, a small company (incorporated or not) can charge a late payment fee linked to the Bank of England base rate. It is enforcable in principle, but of course a lot of hassle. Probably better to dump these people, and enter the amount as a bad debt in your accounts.
The industry-standard these days, BTW, is not \'The cheque is in the post beyond the orbit of Neptune\', but \'We never received your invoice\'. Emailed invoices are legal - but keep a copy!  ... See more In the UK too, a small company (incorporated or not) can charge a late payment fee linked to the Bank of England base rate. It is enforcable in principle, but of course a lot of hassle. Probably better to dump these people, and enter the amount as a bad debt in your accounts.
The industry-standard these days, BTW, is not \'The cheque is in the post beyond the orbit of Neptune\', but \'We never received your invoice\'. Emailed invoices are legal - but keep a copy! 
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