Creating a Credit Policy: Rewards
11. Make your rewards known.
This gets back to “negotiate” if you have a payment policy that rewards your customers, make sure it is known, and that this is treated like a tool you use to build that customer relationship.
Your credit policy will be what ensures timely and even early payment by your client. Your business has a sizable expense in the managing of past due receivables. You owe it to yourself to have a clearly defined approach to getting back what is owed to you.
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