Customer’s Acknowledgement of Payment Terms

CUSTOMER’S ACKNOWLEDGEMENT OF PAYMENT TERMS

Summary This document can be used by a supplier to ensure that their customer understands, in no uncertain terms, what the payment terms are for the supplier’s services. While this document is not intended to be used as an Acknowledgement of Debt, it is more strongly worded than the more contemporary inclusion of payment terms in the average services contracts.

What type of business should use this Customer’s Acknowledge of Payment Terms? You may want to consider using this Acknowledge of Payment Terms document if you run a business without having standard terms and conditions in place, but you still want to ensure that your customers are fully aware of the amounts payable and by when. Alternatively, you may have standard terms and conditions in place but certain “difficult” customers perpetually fail to pay on time and you would like to implement a stronger document that clarifies your payment terms.

Also view: Acknowledgements of Debt templates.

What does the Acknowledge of Payment Terms form say? The template form provides for the following: the customer’s details; the amount payable; the payment dates; consent to credit bureaux; interest and collection charges.

What does the Acknowledge of Payment Terms look like? The template contract can be printed onto one page.

What do you need to do to use the Client Acknowledge of Payment Terms?

• Read the template form to ensure that it suit your requirements. Make any changes as may require.
• Use the form when you identify customers who you feel need an extra reminder of their payment obligations.

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