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Extended Credit request - train in June and be paid in September

Payment terms: "Payment will be made within 60 days of the end of the month in which they are received" says an order that's been passed to me for clearance. Those terms look like a return to the bad old days - should we accept them, we'll complete a course in the first few days of June, and invoice that month. The 60 days will start on 1st July, and payment will be cleared into our bank account on or by Monday, 3rd September. The "end of the month" trick adds, in effect, up to a further 30 days until the bill is paid.

Terms such as these, on what's quite a substantial order, used to be quite common. These days, with improved electronic systems they're totally un-necessary as far as company's administrations are concerned, and they represent bully-boy tactics by a huge multinational looking to use their suppliers as cheap bankers by providing them with what is, in effect, three months of interest-free overdraft.

What are our options? We could simply roll over and accept, and put the cost of not having the money for the period down as a "cost of sale". We could look to re-negotiate with the company's system, but what's the chance of their ivory-towered managers allowing more reasonable terms? And if they did on paper, would they really happen? And would it jeopardise future business? How about us requoting at a price that includes an appropriate interest charge?

"The surcharge of 10 pounds may be deduced if you pay within 10 days". So says a footnote on a bill that's also been brought to my attention (for other reasons), and it's tempting - so tempting - to start invoicing companies such as our 90-day friends with such a surcharge. But I fear that it would complicate our systems and administration where we wouldn't know how much to put through the accounts until it actually came in, and I can imagine a lot of confusion and a lot of resentment being caused in our particular line of business. We could set up an alternative "if you want 90 days" price structure, but then so many companies overrun our 28 day terms and need chasing - would we backcharge them? The whole thing is one of those silly nightmares that any business selling to other businesses or on credit faces.

I have no magic wand. No solution. Policy set, decision made, but only the experience of what happens will test the case. At the moment the jury's out.
(written 2007-04-27)

 
Associated topics are indexed as below, or enter http://melksh.am/nnnn for individual articles
G502 - Well House Consultants - Business Practice
  [4520] No cold sales calls please - but delighted to hear from others! - (2015-09-29)
  [4415] Buffet review - taking the price into account - (2015-02-05)
  [4293] Certification - (2014-09-15)
  [4107] Snog, Marry, Avoid - (2013-05-31)
  [3755] Cruising on the Mersey Ferry? - (2012-06-07)
  [3750] Matching opening hours to when customers can come in and buy - (2012-06-04)
  [3665] Will will smile? - (2012-03-22)
  [3613] Keeping Business Local. But is that realistic? - (2012-02-13)
  [3506] Cold call contacts - preference services and turning off spam sales approaches - (2011-11-03)
  [3333] Honesty and a friendly welcome goes a long way - (2011-06-25)
  [3157] A new monopoly on the ferry to Northern Ireland - (2011-02-04)
  [3073] Customer Service - the boundary - (2010-11-27)
  [2966] Cheap Country Hotel in Melksham, Wiltshire? - (2010-09-21)
  [2936] The service that customers should receive - (2010-08-27)
  [2821] Chancellor George Osborne inspires Perl Program - (2010-06-22)
  [2788] Cost of Sales - (2010-06-01)
  [2598] An excuse for making a sales call - (2010-01-26)
  [2465] Melksham Town - asleep or awake? - (2009-10-21)
  [2331] Certification Revisted - Lua - (2009-08-09)
  [2283] Everyone is in the customer relations business - (2009-07-12)
  [2190] How you are (re)presented at an exhibition - (2009-05-19)
  [2187] Are we IITT (Institute of IT Training) members? - (2009-05-17)
  [2161] Get it right ... if it goes wrong, it takes so much effort to sort out! - (2009-05-08)
  [2126] Weeding out old phone numbers - (2009-04-11)
  [2122] Commission Creep - (2009-04-08)
  [2044] Please Trouble me - (2009-02-16)
  [1913] Alastair Darling helps make paperwork and confusion - (2008-11-30)
  [1855] Volunteer v Employee - a skewed balance? (FSB) - (2008-10-25)
  [1713] Ways to accept credit cards - or not! - (2008-07-19)
  [1626] Early May - a short chance to regroup and improve - (2008-05-01)
  [1485] Copyright and theft of images, bandwidth and members. - (2007-12-26)
  [1453] What makes our courses special? - (2007-12-02)
  [1394] Business to Business Networking - North and West Wilts / Melksham - (2007-10-17)
  [1373] New Month, New Quarter, New Laws - (2007-10-01)
  [1342] Google, wwmdirectory, Freshwater, ATP - new scam? - (2007-09-09)
  [1319] Customer feedback - lifeblood of a business - (2007-08-25)
  [1263] 0800 043 8225 - a new phone number for Well House - (2007-07-10)
  [1260] An inspirational business talk from one of our prospective MPs - (2007-07-06)
  [1243] Heavy duty hole punch - (2007-06-24)
  [1157] Speed Networking - a great evening and how we arranged it - (2007-04-21)
  [1133] B-2-B Networking, 20th April. Useful for YOUR business? - (2007-04-03)
  [1084] Writing terms and conditions for conferences and other events - (2007-02-17)
  [1057] Selling by phone and Skype - our policy - (2007-01-30)
  [906] A commitment we won't be making - (2006-10-27)
  [883] Age discrimination law - (2006-10-01)
  [869] UNABLE TO ATTEND - (2006-09-16)
  [849] Staff Meeting - (2006-08-30)
  [808] Sales call - (2006-07-19)
  [766] Discounts and approved supplier lists - (2006-06-17)
  [664] Ruby course - oops - it's not happening - (2006-04-01)
  [652] Morning Post - (2006-03-20)
  [626] Not just a pretty face to answer the phone. - (2006-02-26)
  [536] Cancellations and penalties - (2005-12-21)
  [491] Being atypical is typical - (2005-11-10)
  [487] On line course booking - credit card protection - (2005-11-06)
  [467] Tell them three times - (2005-10-17)
  [457] Do the work and take the risk - a PHP contract to avoid - (2005-10-06)
  [438] Fair system for travel and accommodation expenses - (2005-09-07)
  [399] simplicity hides real size - (2005-07-31)
  [321] Sales - the alternative close - (2005-05-23)
  [297] A reminder that the customer is King - (2005-05-01)
  [226] Growing our systems - (2005-02-24)
  [217] Use of time - (2005-02-16)
  [211] Look after your staff and they'll look after you. AOL. - (2005-02-12)
  [200] Tips for the top - (2005-02-03)
  [188] Pink elephant and appreciation - (2005-01-24)
  [180] Skunk works - (2005-01-17)
  [157] Automatic service upgrades - (2004-12-19)
  [137] Certification schemes - (2004-12-02)
  [129] Trawling our site to prevent student copying - (2004-11-24)
  [125] Staff theft - (2004-11-21)
  [121] Fair and Simple - (2004-11-17)
  [108] A typical morning - (2004-11-03)
  [95] Five red flags - (2004-10-21)
  [88] Getting the right level of trainer - (2004-10-14)
  [77] Telephone systems - (2004-10-07)
  [68] Get the strategy worked out and the tactics just fall into place. - (2004-09-30)
  [27] Sales technique - (2004-08-25)
  [15] 90 to 10 or 80 to 20 rule - (2004-08-15)


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Some other Articles
Emailing as HTML (Web Page) - PHP example
Moving out some of the web site bloat
Leaning tower of Cheeser
Back button - ensuring order are not submitted twice (PHP)
Extended Credit request - train in June and be paid in September
Grand Central Station
A better alternative to cutting and pasting code
Cheddleton, Staffordshire
A contrast in room rates and facilities
HTML - example of a simple web page
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This is a page archived from The Horse's Mouth at http://www.wellho.net/horse/ - the diary and writings of Graham Ellis. Every attempt was made to provide current information at the time the page was written, but things do move forward in our business - new software releases, price changes, new techniques. Please check back via our main site for current courses, prices, versions, etc - any mention of a price in "The Horse's Mouth" cannot be taken as an offer to supply at that price.

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