KIT PAYMENT - PLEASE READ - VERY IMPORTANT FOR EVERYONE

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KIT PAYMENT - PLEASE READ - VERY IMPORTANT FOR EVERYONE

Post  Steam Traction World on Sat Nov 05, 2011 2:20 am

Hi All,

Can I please remind everyone about our policy for payment.

We currently despatch all our kits prior to receiving payment as a good will gesture. Normally we include in the kit an invoice which we ask you to be paid by Credit Card, Debit Card, Bank Transfer or cheque within 7 days of receiving your kit. We do this as a matter of trust and rely on our customers paying us promptly.

As of close of business today we are owed over 30,000 from customers that have exceeded the 7 days. From this figure we are owed 8,000+ from customers who have exceeded one month and 4000+ from customers who have exceeded 2 months!!.

This not only affects cash flow it also then means Isabel has to waste valuable time chasing invoices that are overdue when she could be chasing suppliers to ensure the material is in to get your next kit out.

We do everything we can to despatch your kits on time and in return please please pay for them in the timescale requested.

We do not want to penalise everyone as some customers pay the minute they receive the goods, thank you very much to them, however, for those customers who do continue to pay extremely late we will have no alternative but to start taking payment before despatch.

Your co-operation would be appreciated.

Thanks

Dean & Steve
Steam Traction World



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Re: KIT PAYMENT - PLEASE READ - VERY IMPORTANT FOR EVERYONE

Post  Vapor on Sun Nov 06, 2011 9:55 pm

Steve/Dean

I can only echo your comments, cash flow has been the killer of many busniesses I can only suggest you implement payment before dispatch to any persistant offenders, STW is a young business and needs this cash to both opperate and grow.

I know everyone will agree STW are no good to any of us builders if you cant carry out your buisness in a timley manner due to time lost needlesly chasing late payments.

Ian
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Re: KIT PAYMENT - PLEASE READ - VERY IMPORTANT FOR EVERYONE

Post  Robfishman on Sun Nov 06, 2011 10:41 pm

We all know the rules so come on and make sure we help with the sustainability of the business by paying on time, and ensure the team can concentrate on delivering the quality and service we have all come to expect.
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Re: KIT PAYMENT - PLEASE READ - VERY IMPORTANT FOR EVERYONE

Post  MrStationHouse on Mon Nov 07, 2011 6:41 am

I always think that if you expect a business to respond to your needs quickly the least you can do is pay them quickly. As a business owner I really appreciate those who pay us quickly and if they want a quick response from us we are much more likely to do it!

Best wushes
Simon

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Re: KIT PAYMENT - PLEASE READ - VERY IMPORTANT FOR EVERYONE

Post  Frostie on Wed Nov 30, 2011 5:41 am

Come on guys(Those late payers), you knew what you were taking on when you ordered the machine, you are getting a really good price/deal for a great machine, if late payers cause the company to founder then we all lose out !!!
Pay before dispatch is what I think you should request STW...

Frostie..
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Late payers

Post  Steve Traill on Wed Nov 30, 2011 9:39 am

Some people just wait for a red letter for any bill as a matter of course, personal policy etc. I think it would be a struggle to change that sort of persons habits so why not impliment a three late payments & its money up front for all kits. That way the prompt payers continue with the 'civilised' system of paying after the kit has arrived and the late payers have a red line through there name to highlight 'money first'
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Payments

Post  Mike on Thu Jan 26, 2012 2:59 am

The best way to avoid late payments is to make customers want to pay.
1). Payment within 14 days. 20.00 added for payment after that date.
2). Payment by Direct Debit only.
3). A discount of 10.00 for payment before delivery date.
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Re: KIT PAYMENT - PLEASE READ - VERY IMPORTANT FOR EVERYONE

Post  Robfishman on Thu Jan 26, 2012 9:18 am

Mike wrote:The best way to avoid late payments is to make customers want to pay.
1). Payment within 14 days. 20.00 added for payment after that date.
2). Payment by Direct Debit only.
3). A discount of 10.00 for payment before delivery date.

A good idea Mike but can get very hard to manage for a small business, far better if people pay within 7 days, and if consistently pay late...payment in advance of despatch.
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Re: KIT PAYMENT - PLEASE READ - VERY IMPORTANT FOR EVERYONE

Post  Vapor on Thu Jan 26, 2012 7:13 pm

I know a couple of hitmen/debt collectors that can help Smile if you have any difficult customers Dean
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