This use of bold fonts and numbered sections is a good way to draw attention to some important payment clauses and break them down in a way that is very readable to customers. Teleadapt has a completely separate “conditions of sale” with definitions of keywords used, liability restrictions and other detailed sales and purchase information. 7) Promoting a healthy customer relationship A good relationship and proactive communication has come a long way to solving payment problems with customers. Make a transparent and honest discussion with the customer if you notice a trend towards recurring late payments. A healthy relationship can facilitate constructive discussion between the two parties to understand the underlying reasons for late payments and to reach a constructive conclusion to address the problem immediately. 9) Weekly voting It is important to have a clear overview of all outstanding invoices, both current and late, by a weekly vote of your requests. This will help you identify any late payments so you can initiate timely follow-ups to receive payments on time. This simple and comprehensive payment clause works well for a company like Apple, which has a number of opportunities for customers to purchase electronic media such as songs, movies and mobile applications. Here are some examples of payment clauses in legal agreements of different applications. Optimal payment conditions While many companies have their own custom payment terms in accordance with their type of business and capital requirements, there are few current billing conditions that are considered industry standards. Look at these payment terms and their importance.
For more information on contractual terms, please see your customers` terms and conditions and credit verification and credit limits. If your company accepts user payments through your website and/or mobile app, you can include certain clauses in your terms and conditions sales contract that discuss payment terms.