[tsotha]

I used to work for a company that put a late-payment clause right in the contract. If you didn't pay us you were on the hook for a fee plus interest on the outstanding balance. So essentially it was like owing money to the IRS.

As far as I know nobody ever gave us trouble about payment.

[jacques_chester]

> I used to work for a company that put a late-payment clause right in the contract. If you didn't pay us you were on the hook for a fee plus interest on the outstanding balance.

This is so common in the business world -- terms -- that there's a short hand minilanguage for describing your terms on invoices, purchase orders and contracts.

Here's a decent list: http://www.businesslink.gov.uk/bdotg/action/detail?itemId=10...