Post by joita9865 on Oct 26, 2023 3:42:44 GMT -5
There can be many reasons and they concern external and internal factors. These will be, for example: Unfavorable economic situation - any fluctuations in the economic situation and world events may significantly affect your financial condition. A crisis or economic slowdown may reduce the contractor's/customer's income, which will affect his or her ability to finalize payments; Inappropriate company strategy - entrepreneurs may sometimes adopt the tactic of making the repayment of liabilities dependent on other contractors.
As a result, if any of the participants in commercial relations is late in making payments, the consequences will be felt by all; Dishonesty, fraud - unfortunately, there are also situations in which you may become a victim of abuse. The buyer may be unreliable, have philippines photo editor debts, conduct illegal activities, etc. Therefore, always pay attention to who you cooperate with; Mistake – the reason for delay in payments may also be a simple mistake or oversight. The contractor or client could, for example, lose the invoice, forget about the obligation to pay, or not understand the agreed arrangements. It is also possible that you sent the wrong, defective goods. In such situations, quick communication and a joint attempt to solve the problems are crucial.
Counteracting payment delays Payment backlogs are always an undesirable situation. However, there are ways to avoid them or limit their negative impact on the company. What can you do to prevent late payments? . Act on payment backlogs To begin with, it is worth referring to the legal provisions that regulate this issue and, if necessary, enforce your rights. The Act of January , on payment backlogs adopted by the Parliament. It includes, among others: The maximum payment deadline for transactions in which the debtor is a public entity (excluding medical entities) is days; In asymmetric business relations.
As a result, if any of the participants in commercial relations is late in making payments, the consequences will be felt by all; Dishonesty, fraud - unfortunately, there are also situations in which you may become a victim of abuse. The buyer may be unreliable, have philippines photo editor debts, conduct illegal activities, etc. Therefore, always pay attention to who you cooperate with; Mistake – the reason for delay in payments may also be a simple mistake or oversight. The contractor or client could, for example, lose the invoice, forget about the obligation to pay, or not understand the agreed arrangements. It is also possible that you sent the wrong, defective goods. In such situations, quick communication and a joint attempt to solve the problems are crucial.
Counteracting payment delays Payment backlogs are always an undesirable situation. However, there are ways to avoid them or limit their negative impact on the company. What can you do to prevent late payments? . Act on payment backlogs To begin with, it is worth referring to the legal provisions that regulate this issue and, if necessary, enforce your rights. The Act of January , on payment backlogs adopted by the Parliament. It includes, among others: The maximum payment deadline for transactions in which the debtor is a public entity (excluding medical entities) is days; In asymmetric business relations.