OT: NET15 Terms

From: Eric Wolf 
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What is your definition of "NET15 terms"? I always understood it as "the
payee should receive payment no later than 15 days after the payor receives
an invoice. Are there more "flexible" definitions, like:

Do you think acceptable definitions may include "the check is in the mail"
within 15 days? Or can it mean, "the payee has processed the invoice within
15 days and it will be paid on the next cycle"?
-Eric

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Eric B. Wolf                           720-334-7734

=============================================================== From: Aaron Welch ------------------------------------------------------ It is invoiced, but payment is due within 15 days. I assess penalties if it= is late. -AW ayee should receive payment no later than 15 days after the payor receives a= n invoice. Are there more "flexible" definitions, like: within 15 days? Or can it mean, "the payee has processed the invoice within= 15 days and it will be paid on the next cycle"? =3D-

=============================================================== From: Dave Brockman ------------------------------------------------------ -----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 Most accounting software puts a date on an invoice (once you go through the process(es) to "release" the invoice). Most accounting software starts a count-down from that point, and assesses penalties based on the invoice date and customer terms. I process an invoice on the first to a NET15 customer, penalties are assessed on the 17th if not received. Bureaucracy has a way of horribly complicating the most simple of concepts. That speak of payment cycles, etc you mentioned sounds exactly like that, bureaucratic BS to magically extend NET15 into NET45 or some other such BS.... Regards, dtb - -- "Some things in life can never be fully appreciated nor understood unless experienced firsthand. Some things in networking can never be fully understood by someone who neither builds commercial networking equipment nor runs an operational network." RFC 1925 -----BEGIN PGP SIGNATURE----- Version: GnuPG v2.0.17 (MingW32) Comment: Using GnuPG with undefined - http://www.enigmail.net/ iEYEARECAAYFAlDUmWgACgkQABP1RO+tr2RyBACgnXyoQ5pbjrIClbuwmDtNy6TY uOoAnjmNGaEvtd6TWLayertW+c1cbENP =yDwU -----END PGP SIGNATURE-----

=============================================================== From: Eric Wolf ------------------------------------------------------ So one should expect to receive payment for invoice with NET15 terms received by the client on 12/3 by 12/18... Which was my understanding... It looks like I won't receive payment for the invoice until 12/31. I hate to be a dick with a client who is actually paying... but where do you draw the line? -=--=---=----=----=---=--=-=--=---=----=---=--=-=- Eric B. Wolf 720-334-7734

=============================================================== From: Stephen Haywood ------------------------------------------------------ Where ever the contract says you draw the line. If the contract says NET15, hold the client to it. If NET30 works better for you and the client, modify the contract. Always, use the contract as the final answer, that is why you have it.

=============================================================== From: Aaron Welch ------------------------------------------------------ Give an inch this time... Set the stage for following the rules now. -AW ved by the client on 12/3 by 12/18... Which was my understanding... It looks= like I won't receive payment for the invoice until 12/31. I hate to be a di= ck with a client who is actually paying... but where do you draw the line? =3D- :

=============================================================== From: Rip Linton ------------------------------------------------------ I always use Net 15 terms and I expect the payment to be received within = 15 days from the day they receive the invoice. =20 =20 -----Original Message----- From: Eric Wolf To: CHUGALUG Sent: Fri, Dec 21, 2012 11:42 am Subject: [Chugalug] OT: NET15 Terms What is your definition of "NET15 terms"? I always understood it as "the pa= yee should receive payment no later than 15 days after the payor receives a= n invoice. Are there more "flexible" definitions, like: Do you think acceptable definitions may include "the check is in the mail" = within 15 days? Or can it mean, "the payee has processed the invoice within= 15 days and it will be paid on the next cycle"? -Eric -=3D--=3D---=3D----=3D----=3D---=3D--=3D-=3D--=3D---=3D----=3D---=3D--=3D-= =3D- Eric B. Wolf 720-334-7734 =20