E-transfer only !

[TruckDuck]

I read the good payers-bad payers on here daily. Here is what I suggest to help everyone in our industry.
50 to 60 days is unacceptable, period!!!
With the way we operate nowadays with computer and banking technology I would only deal with electronic payment ONLY!
No more calling for checks. 30 days from receipt of the invoice, sure, show some flexibility but there is no way a payment should exceed 40 days.
No E-Payment, no business transaction.
Time to get tough!!!
You thoughts?

 

[MLCAR]

I read the good payers-bad payers on here daily. Here is what I suggest to help everyone in our industry.
50 to 60 days is unacceptable, period!!!
With the way we operate nowadays with computer and banking technology I would only deal with electronic payment ONLY!
No more calling for checks. 30 days from receipt of the invoice, sure, show some flexibility but there is no way a payment should exceed 40 days.
No E-Payment, no business transaction.
Time to get tough!!!
You thoughts?

Yep couldn't agree more, however to few things to keep in mind btw. Email transfers are reversable, so are wire transfers (for a fee), credit card payments can be disputed after the transaction and reversed, and cheques can bounce or return up to a year from when it was deposited. Other than cash no real alternative method of payments are fool proof. That being said, the best way to mitigate the issue is working with brokers/customers that are reputable. That will weed out the bad players and leave more freight for the rest of us and save us all the head ache.

 

[Igor Galanter]

cash no real

Meaning forged money? Bumer...

 

[EricG]

Credits Cards protect a merchant quite well if you have a signed sales draft.... hint hint. Very hard to lose a chargeback dispute with a signed BOL and signed credit card receipt by the cardholder. Documentation is key.

E-transfers are hard to reverse if auto deposit is turned on. Use a clearing account, not your general account. Bank Drafts and Money Orders are foolproof if don't accept a forged or fake financial instrument.

Any credit extended should not exceed 30 days imo.