As you may have guessed I am finally getting on top of merging my business into one and as I have a few booking forms to send out tonight I figured I would overhaul all my documents and make them all uniform and chuck out the one's I don't use etc.

My question really is do any of you have a late payment / interest clause on your invoices.  I have had trouble recently getting some corporate clients to pay up within the 30 days and I would rather not have to resort to asking for payment up front but when I am booking more than one artist I do not wish to have to pay them out of my pocket because my client is being slow.

I know we are automatically entitled to claim 8% plus the Bank of England base rate on any money outstanding 30 days after it was due but I would like to include a late payment fee to my invoices and have no idea how to word it  :shock:

Any help would be gratefully received  

Hi Yvonne,

There are a couple of ways of approaching this depending on the client you offer payment terms to. If they a corporate entity they would be used to something along the lines of...

All invoices are strictly 30 days. Any outstanding balance after this time will be subject to an administation fee of (Blah %, or Blah Amount). Failure to meet this requirement on a regular basis may affect the offer of any credit facilities in future, and will result in all work being on a pro-forma basis.

Although smaller companies may appreciate a touch of humanity to it, but would depend on the overall 'feel' of your invoices, as such you could use something like...

Loony Balloony staff need to eat too. As such we request all invoices are paid within 30 days, any outstanding balance after this time will be subject to an administation fee of (Blah %, or Blah Amount).

Pete