How to prevent and deal with late payments

Finance & Funding

Reduce the risk of late payments by taking preventative measures such as setting out payment terms and doing credit checks.
Schedule regular time for administration and developing your policies and processes to prevent late payments.
Chase late payments promptly, working through the steps to recover debts, and be prepared to take legal action where needed.
Alternative financing options, proactive cashflow management, and building your network can help you be prepared when late or missed payments happen.

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