Getting Paid in a Tough Economy
By Nina Kaufman, Esq.Cash (flow) is king, especially in a challenging economy. But there are ways you can ensure that you get paid in a timely manner. Jamie Herzlich’s article in Newsday gives some handy pointers, including:
- Staying on top of unpaid invoices
- Developing a system for handling them
- Putting payment plans in place ASAP (if full payment is not forthcoming)
Another suggestion: Make sure you have your agreements with your clients and customers in writing. Whether it’s a full-blown contract or a purchase order, anything written that confirms the terms of your arrangement can help you. It sets the expectations up front and provides a basis for a lawsuit if you need to collect. Same goes for any payment plan arrangement–make sure you document those agreements.
You deserve to be paid, protected, and prosperous. Kaufman Business Law can help get you there. Watch this short video to find out how.
