5%

Because they ignore the 5%. Why would a broker care about their credit rating? What would they need to borrow money for?

 

#1 you will never be able to collect it anyway.
#2 if you have a broker who is always a slow pay, then just don't have an available truck too often for them ... if they ask why, tell them straight up, you have someone else that also pays your rate, but keeps good on the payment terms. No hard feelings.

 

Why can't you just write 2% off invoice total if paid within 1 or 2 weeks? Saves them some money, you you get paid quicker

 

Add that to the rate contract and let us know how it goes.

 

Have it on mine but only 2% per month and get it paid 99% of the time , and just opened a check that was 3 days past due and it was for $3,000.00 with an extra $60.00 added to it

 

Just like any other business, if they sign your contract agreement addendum, which could include say 2% discount for paying within 10 days and 5% per month charged at 31 days, or whatever, they would be bound to pay it.

And if they do not and u wish to not haul for them in the future, you can take them to court, but it's prob not worth it. However, if they get enough dings on their credit report, they may have issues when it comes time to renew their bond. And you may be able to sell their unpaid receivables to a collection agency for whatever you can get for it, and let them aggravate the P out of them.

 

Yeah OK, I have a worthless attitude. My attitude is more in line with Gokidgo's....don't deal with them at all and tell them why. Heck it usually takes me 30 days or more just to invoice them.

 

They ain't going to sign your addendum. Been there done that. Waste of time and energy. All it does is make me look like an under capitalized amateur. It makes me look like I deal with people that don't pay all the time. This is exactly the wrong image I want to project.

Yeah. OK. I'm going to take them to court (that's a joke in itself..been there too) and sell their receivables (at a loss BTW) for being a couple weeks over 30 days? Are you guys living in the real world? Use a credit service before you book the load. Check to make sure they have a bond. If they are late, file on the bond, report them to the credit service and don't do business with them again. Sheesh, you guys are spending all this time, energy and money on these people when you could save yourselves all the effort.