Payment Chasers
Payment Plan: Short Written Agreement
A short instalment agreement for the payer who genuinely cannot pay in one go. Records the debt as owed, sets dated instalments, and accelerates the whole balance if one is missed. Work out your lien or bond deadline BEFORE you agree to wait.
Medium risk
Check your contract first. Consider a peer review before sending.
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When to use this
- •The payer has said in writing that there is a cashflow problem
- •You would rather have the money late than fight for it
- •You need the debt acknowledged in writing before you agree to wait