If you are offered a discount for early payment, don’t expect the discount when you pay late!
One of our regular recruitment sector clients contacted us with a debt when their client had been given special terms (a discount) under one simple condition, pay on time. Shockingly, despite the handsome discount fee given for the placement, their client did not pay on time! We were passed the debt as our customer had dealt with us in this type of situation before and knew the outcome would be a positive cash outcome with our fees likely covered in full, and most of all, they would not have to chase the debtor, having time to focus on their core business.
Sterling collected the first discounted fee invoice almost immediately. The 2nd invoice for the balance of the rest of the usual fee (as they had forfeited the discount option and now had to pay the full fee) was disputed and then collected by Sterling + late fees + interest + charges, which totalled up to more than enough for Sterling’s win fee to be covered and our customer to receive their invoices paid in full, within 2 weeks of passing this debt.