That 60 day payment clause I always skipped finally bit me in Salem

I had this boilerplate contract I copied for like 5 years and it had a net 60 payment term I never really read. Last month a project in Salem wrapped up and I just assumed they'd pay in 30 like everyone else. When I messaged on day 32 they pointed right to the signed agreement and said I was late on their terms. Now I check the payment section on every single contract before I send it over... took a $1,800 invoice sitting unpaid to learn that one. Anyone else been burned by a clause they never noticed?

2 comments

2 Comments

the_sage4d ago

Highlight the payment section with a yellow marker before you even send a draft now. I got stuck with a net 90 clause once because the sales rep said "standard terms" and I didn't flip to page 14. Now I read the invoice date, due date, and late fee line out loud to whoever I'm dealing with. Also ask them to confirm the payment window in writing before you start any work, even if it's awkward. Better to look annoying upfront than chase money for two months later.

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blake_kelly194d ago

Did that net 90 thing end up costing you way more than just waiting, like fees or lost work?