Legal Question in Business Law in India
we are supplying our products to one of our clients since last one year. the payments are always getting delayed by the double time speculated in the PO. we have sustained till now but on our continuous telephonic followup, meetings and mails, still the client is admant to not make the payment on time. what can be done as we have already stopped supplying our products to them.
Asked on 5/16/15, 8:14 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
17.05.2015
Dear Sir / Madam,
You are entitled to charge the client interest on delayed payments and issue a Statement of Account showing the net outstanding owed to you by the client with a request to settle payment within 15 days. If the client fails to settle your dues, you may serve a legal notice to the client.
Regards,
Answered on 5/16/15, 8:42 pm
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