Armin recently asked, "What percentage do you bill a client for unpaid invoices? And after how many days/months from due date do you start billing interest?"
I stipulate that if the final invoice isn't paid within 30 days, a 5% "delayed payment" fee is charged. This initial 5% figure is then added upon each recurring 30 day period until the full amount is received.
Thankfully, I’ve yet to add the fee to an invoice, likely because I don’t send files until receiving full payment.
How do you deal with unpaid invoices?
Cole kindly pointed me toward these relevant pages:
- The most effective debt collecting email I ever wrote, by Andy Clarke
- Charging interest on late payments, on gov.uk
- F*ck you. Pay me. A CreativeMornings video from Mike Monteiro