What's The Minimum Time You Can Specify An Invoice Has To Be Paid In?

[Allegrif]

I've heard from people it's a week, but then I've had the odd client who's complained and told me it's longer than that. Could anyone clear this up for me?

 

[Zarostulus]

I'm not actually too sure about this, although I know if no date is specified the automatic legal standpoint is 30 days.

 

[Allegrif]

So the general consensus is 7 days, but it seems this can't actually be confirmed anywhere. A couple of sources even list 15 days as the minimum! I'm still just as baffled.

 

[Businessman]

When was the last time you got a bill (invoice) from your electricity 'supplier'? You'll find it's 'due and payable now'! - Manners/convention might dictate 15 or 30 days... But if your T&Cs say 'on presentation' then that's it. - It costs you money to offer 'credit' in this way; ultimately that has to wind up on your client's bill. My own view is not to make the good payers pay for the bad ones!

 

[Needhelp]

The problem is that once you start being "soft" on payment of your invoices, people will take advantage to suit their own ends. There will be occassions where it is in your best interests to "help" a customer with a short term cashflow issue but remember, the more you depend on a customer and the more they owe you, the more control they have over you. Start as you mean to go on.....