Is it proper to mention interest on an invoice?

Question

Like:
"Outstanding balance as of July 24th will be subject to 10% invoice"... for example?

Answer 1

Yes, an Invoice should have (in small print if needed) all the terms and conditions of the transaction.

Answer 2

state, national, or local law controls what the actual terms of sale can be.

and, the invoice should mention the terms, don't you think?

[example: terms in some industries I've dealt with are usually stated on invoices as "5/30, due 180, 3%/mo+" which means 5% discount if paid within 30 days, full amount due in six months, and 3% per month added thereafter.]

k?

Answer 3

It's absolutely proper, although the amount you mention sounds a little off - you'd more likely say x% per month after that.

Answer 4

Sure.

You can't enforce a contract where there never was one. So if you ever want to charge interest on late payment you need to give the buyer notice.

But, there are rules governing how much interest you can charge.

Answer 5

why not? If all business people made financial requirements as apparent as that instead of putting in font five at the bottom of your TV screen or hiring one of those people with lightening speed voices, we wouldn't be so quick not to trust'em.