I am seeing more and more VM companies with actual agreements to be signed with the individual abstracting companies, how about the rest of you having VMs sign yours? With regard to this, how many of you have agreements and actually late fees attached. I know a relatively successful abstracting company in my area that charges a flat 5% late fee to any invoices paid late - they print it out in their lower left hand memo box - and I'm sure they have an agreement signed. These companies are not going to use their bank credit line to pay us unless it costs them something to not pay us and even so, we should get something extra for not being paid on time. I don't know of any business that doesn't have some kind of penalty - heck when I brought my son's saxaphone in for repair - the repair bill said not responsible for "lost" saxaphones after 30 days - lol - that's a good laugh!
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