Slow payments/nonpayment

[raulus]

Just another brick in the wall, I guess...

Seems like the economic situation must be starting to affect our world a bit more these days. I'm sure that I'm not the only one who received this email from Heritage today:

As a result of a noticeable uptick in delayed payments, and higher interest rates in financial markets, interest charges will be added to invoices not paid by the due date, consistent with Heritage's Terms and Conditions of sale, as follows:

A 1% monthly interest charge on the declining balance will be applied to all invoices that are not paid within 14 days of the invoice date. After 45 days, the interest rate will increase to 1.5% monthly, on the declining balance.

We will send a reminder by email, before the due date.

Flexible Payment Options: We understand that circumstances can vary, and we are committed to working with you to find a suitable payment solution if needed. Please do not hesitate to contact us to discuss any concerns or to set up a payment plan.