ECN Forum Forums General Topics of the Trade General Discussion Area Compounded by the nano second!

It's late, I'm tired, and I'm brainstorming... Beware!

What options do we have as far as penalizing late paying customers?

Other than mechanics liens and such...

For example:

Let's say a customer has been enjoying a service installation that hasn't been paid for yet. If the PoCo doesn't get money, they cut off the Power. Can I put a LOTO on the disco after opening the main without getting majorly in trouble? I'm thinking, they'd face fines from OSHA for removing it, and the PoCo does the same thing... Let's assume there's no one on life support in the building in question. It's hypothetical, anyway... I know, I'm stretching things here...

What about charging interest? We're all familiar with the 18% APR that we are allowed to use, but how often are we allowed to compound the interest? I would expect compounding monthly, daily, or by the nanosecond will make for some interestingly diverse figures... See what I'm getting at?

"Net due in 30 days or interst of 18%APR will be charged <really small print> compounded my the nano second."



Time for bed...



[This message has been edited by sparky66wv (edited 11-01-2002).]