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RENT PAYMENT POLICY
LATE CHARGE POLICY
FRISCO HOUSING AUTHORITY
As Stated in the LEASE AGREEMENT
a. The initial term of this Lease is twelve (12) months, unless otherwise modified or terminated in
accordance
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How to fill out late charge poicy
How to fill out late charge poicy
01
Determine the late fee percentage or amount that will be charged to customers who fail to make payment on time.
02
Clearly define the grace period, if any, before the late fee is imposed.
03
Specify the payment methods accepted and provide instructions on how customers can make timely payments.
04
Clearly communicate the late charge policy to customers through contracts, invoices, or other written communication.
05
Keep accurate records of late payments and implement a system to track and apply late fees to customer accounts.
06
Establish a process for handling disputes or exceptions to the late charge policy.
07
Regularly review and update the late charge policy to ensure it aligns with business needs and industry standards.
Who needs late charge poicy?
01
Late charge policies are beneficial for any business or organization that offers credit or payment terms to customers.
02
It is particularly important for businesses that rely on timely payments to maintain cash flow and cover expenses.
03
Service-based industries, such as freelancers, consultants, and contractors, often implement late charge policies to encourage clients to pay on time.
04
Retail businesses, subscription-based services, and landlords also commonly use late charge policies to enforce payment deadlines.
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