Legal Question in Credit and Debt Law in New York

Pretty much the time frame is based on the statute of limitations and equitable considerations. If you wait too long the law will prevent you from taking legal measures to collect your invoice. That would be 6 years from the date that the obligation to pay arose. However, equitable considerations could reduce that time period if a court felt that the delay in billing caused harm to your customer. (That would be "latches"). For instance, if you were aware of a scenario that might make it difficult or impossible for the customer to pay and you waited until that scenario unfolded before sending a bill, you might be found "guilty" of latches and your otherwise collectible invoice might get invalidated. However, a harmless delay would not normally prevent you from correcting your inadvertent error by sending a "late" invoice. Of course you would not be able to add in late charges, etc. if you are late in billing.