When do I have to send a reminder?
If a customer does not pay within the payment term, sending a reminder is a logical next step. It is prescribed by law when you can send this reminder. However, the right time is crucial to increase the chance of success. But what is the best time to send a reminder? You can read it here.
Send the first reminder
Before you engage a Debt Collection agency, it is customary to send a notice of default to your customer. A ‘notice of default’ is another word for the usual ‘reminder’. With this notice, you let your customer know that your invoice has not been paid within the legal payment term and that you still expect payment. On average, companies send one to three payment reminders to customers who have not yet paid the invoice. However, many companies do not know what the law prescribes for this.