Late Fees in Contract....

[Abigail]

What am I missing for this section....do I need to put anything if they go a week or a few days without payment? I know some people say after one week of non-payment consider it to be ending the contract.

Late Payments & Insufficient Funds
You will pay a fee of $10 if you fail to make a payment on the scheduled day. If payment is not received by drop-off time on Monday, childcare services will not be provided until payment and any applicable late fees are paid in full. Repeated late payments or NSF checks may be grounds for immediate TERMINATION. You will be liable for any and all costs of collection with regard to delinquent tuition fees. Any fees related to insufficient funds check must pay any bank charges to my account. After one NSF check, you may be required to pay your weekly tuition by cash.

[marniewon]

I don't know if there is anything to add, but are you only charging the $10 late fee once? Or every day that it's late? It's not very clear.

Late Payments & Insufficient Funds
Payment for services is due on Fridays. If payment is not received by pick up on Friday, there will be a $10 late fee per day until tuition is paid. If payment is not received by drop-off time on Monday, childcare services will not be provided until payment and any applicable late fees are paid in full. You will be liable for any and all costs of collection with regard to delinquent tuition fees. Any checks that come back to me unpaid will be subject to the late payment fees as well as $30 bank fees. After one NSF check, you may be required to pay your weekly tuition by cash. Repeated late payments or NSF checks may be grounds for immediate TERMINATION.

I tweaked it a bit. Feel free to use it or not

[Cat Herder]

I simply do not allow drop-off without payment.

Will that not work for your program? :confused:

[Abigail]

I don't know if there is anything to add, but are you only charging the $10 late fee once? Or every day that it's late? It's not very clear.

Late Payments & Insufficient Funds
Payment for services is due on Fridays. If payment is not received by pick up on Friday, there will be a $10 late fee per day until tuition is paid. If payment is not received by drop-off time on Monday, childcare services will not be provided until payment and any applicable late fees are paid in full. You will be liable for any and all costs of collection with regard to delinquent tuition fees. Any checks that come back to me unpaid will be subject to the late payment fees as well as $30 bank fees. After one NSF check, you may be required to pay your weekly tuition by cash. Repeated late payments or NSF checks may be grounds for immediate TERMINATION.

I tweaked it a bit. Feel free to use it or not

I like the part that if it's a NSF they are subject to the late fees as well! I just wanted to have a one-time late fee and it's paid in advance. I figured if they did not return with the weekly fee with an additional $10 I would not provide care until they paid it. I was wondering what if they don't come/call/pay on Monday and Tuesday rolls around, then Wednesday....what would my plan of action be?

[TBird]

Here is my late Payment Policy...my pay day is THURSDAY.

LATE PAYMENT POLICY:
1. CASH PAYMENT will be accepted on FRIDAY.
2. CASH PAYMENT will be accepted with a $10.00 late fee on SATURDAY.
3. CASH PAYMENT will be accepted with a $15.00 late fee on SUNDAY.
4. CASH PAYMENT will be accepted with a $20.00 late fee on MONDAY MORNING.

*Please note that the above is not a payment schedule. When payments are not received on Pay Day (THURSDAY), they are considered late and repeated instances will lead to the termination of the Child Care Contract.*

IF PAYMENT IS NOT RECEIVED BY MONDAY MORNING, YOUR CHILD WILL NOT BE ACCEPTED INTO CARE UNTIL THE OUTSTANDING BALANCE AND LATE FEES ARE PAID. THE $20.00 LATE FEE WILL CONTINUE TO ACCRUE FOR EACH DAY OF DELINQUENT PAYMENT. CONTINUED LATE PAYMENTS WILL RESULT IN TERMINATION OF THE CHILD CARE CONTRACT.

THERE WILL BE A $25.00 FEE FOR RETURNED (BOUNCED) CHECKS. PARENTS WILL ALSO BE RESPONSIBLE FOR ALL BANK RELATED FEES PERTAINING TO THE RETURNED CHECK. A RETURNED CHECK WILL RESULT IN THE NECESSITY TO PAY IN CASH ONLY.