What should I do if the other party defaults on payments?
Posted: Thu Feb 20, 2025 3:17 am
Submit a draft first, then send a letter:
"I'm looking forward to starting our cooperation plan. By the way, I haven't received the payment for this cooperation yet. Do you have an estimated time for the payment?" This is the most sincere and polite approach. I will finish the draft after I get the money.
If the other party continues to default, the dominican republic mobile database cooperation will be terminated.
However, there is one situation where it is acceptable for the other party to default: the other party is a large company with accounting procedures to follow. The custom in the US industry is that no matter how long the accounting process is, it must be paid within 30 days. (Net-30 rule) (This should be roughly the same as Taiwan’s custom.
"I'm looking forward to starting our cooperation plan. By the way, I haven't received the payment for this cooperation yet. Do you have an estimated time for the payment?" This is the most sincere and polite approach. I will finish the draft after I get the money.
If the other party continues to default, the dominican republic mobile database cooperation will be terminated.
However, there is one situation where it is acceptable for the other party to default: the other party is a large company with accounting procedures to follow. The custom in the US industry is that no matter how long the accounting process is, it must be paid within 30 days. (Net-30 rule) (This should be roughly the same as Taiwan’s custom.