late fees - Contract engineer
late fees - Contract engineer
(OP)
Curious what ya'll think.
What is an appropriate late fee?
I just spent the last 2 months working for a small product design firm. I'm a mechanical engineer on a 1099 contract.
In his terms that we signed, payment is due 'net 30'.
Well, it's been 31 days. I stopped working there last week. It's about an hour drive each way to confront directly.
I feel like payment should've been in my hand within 30 days according to his own terms. Not the check is in the mail.
So what's an appropriate late fee?
What is an appropriate late fee?
I just spent the last 2 months working for a small product design firm. I'm a mechanical engineer on a 1099 contract.
In his terms that we signed, payment is due 'net 30'.
Well, it's been 31 days. I stopped working there last week. It's about an hour drive each way to confront directly.
I feel like payment should've been in my hand within 30 days according to his own terms. Not the check is in the mail.
So what's an appropriate late fee?





RE: late fees - Contract engineer
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RE: late fees - Contract engineer
RE: late fees - Contract engineer
If you are working on a contract basis, no benefits, no leverage....then re-negotiate your contract to better terms...say, net 10 days.
On the day after your payment is due, start calling their accounts payable person (get to know this person...valuable). Find out when the invoice will be processed and when the check will be available. Do it every day if necessary.
RE: late fees - Contract engineer
Execute a new contract outlining "late" payments. You probably won't get them - but does give you some leverage. Just be happy if you get paid!!
RE: late fees - Contract engineer
RE: late fees - Contract engineer
Whst they don't know won't kill them.
Mike McCann
MMC Engineering
http://mmcengineering.tripod.com
RE: late fees - Contract engineer
I have never really made it through to the last part but I am prepared if case I do. I find it funny that clients do this. They are only hurting themselves. If I can't pay my insurance premium because they didn't make their payments on time who's at fault?
I usually don't get to worked up at 30 days. I have one client who refuses to pay in 30 days.... but as soon as you contact them at 31 days your check arrives a few days later. Just what they do and I am always prepared for it.