I think a NET15 for these companies is a high expectation. I personally feel they should pay in 15 days or less, since they require us to provide a 24-48 turn around time for them and even same day rushes when possible....so they should promptly pay for our services, BUT I finally learned to lower my expectations. I have chose four clients to stick with, they all pay 30 - 45 days, but at least they pay and I know what to expect. The rest of the companies that order with me...I check SOT, ask my fellow abstractors when possible and then give them a "trial run", if they do not follow my policy of 30 days, then I turn their orders away. My copy accounts are due every 30 days here in Indiana and some counties are changing to pay down accounts, so I basically tell any new client up front that my policy is 30 days or less...if they do not pay by day 45, then I cut them off. I agree we should ask new clients their pay policy, but I feel if they want to use my services...then they will go by my rules, not theirs. That may seem a little far fetched, but so far it has helped weed out the dead beats and clients that want to go 60 - 90 days or whenever the loan closes.
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