Help Protect Yourself From Payment Disputes by Including Payment Terms at the End of All Your Correspondence
Imagine this situation: a sales person has skilfully closed a high-value deal, only to allow the customer to dictate payment terms at the last minute. Oooooops…Believe it or not, this can happen quite easily if sales people fail to state payment terms at the critical moment the deal is struck, enabling the other party to do so instead… It’s all to do with the ‘last shot wins rule’, which says the party that had the last say in negotiations ultimately defines the terms. As a result, if the deal does eventually result in a payment dispute, then a Court of Law will look at the nature of the preceding correspondence to help it infer the correct terms. This kind of payment dispute often leaves credit controllers to pick up the pieces, costing organisations time and money that could be better spent elsewhere. And who needs that kind of hassle? So what can you do to help protect yourself against a dispute related to payment terms? That’s right, as the title of this blog says: you should aim to include payment terms at the end of all your correspondence. This fail-safe strategy isn’t a big deal at all… In fact, many companies simply include full payment terms in their email footers as a matter of course to guard against payment disputes arising. It’s just one small tip that could save you problems with payment disputes in the future. So why not use it…? Nobody will think you are being unreasonable – it’s just good practice in today’s fast-paced working environment.
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