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EagerToSucceed
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Wow, what a lucky bunch! It makes me wish to be in your business!! We unfortunately have 30 Day EOM after EOM accounts. So it is usually over 2 months untill we see our money! Having said that our creditor accounts are 30 day as well. This makes things crucial for timely payments during the transition from our quiet period to the peak season, which is accompanied by a large transaction growth. Depending on your business type, you can’t always demand a deposit or prepayment, unless it is a new account, or one with a bad credit history. BUT if you do find someone who is willing to prepay, KEEP THEM!! You can’t always be hammering down onto your accounts, as it will strain the relation between your business and theirs, but you can not let them get out of hand either, and having a few prepay/COD accounts works wonders for the cashflow. That is why I would LOVE to have your terms in our business!!! ;)