Florida law provides many ways for a business to collect money it is owed for services rendered or goods supplied. A business should begin by having the proper language in its invoices or contracts encouraging customers to pay on time by charging late fees, interest on overdue balances, and a provision holding the non-paying customer responsible for all costs of collection, including attorneys’ fees. Depending on the type of product you provide, you might also consider having a clause where you retain an interest in the goods supplied as collateral to secure payment. Next, a business should closely watch its aging receivables account and consistently follow up on the unpaid accounts. If no payment arrangements are made and you do not receive responses to your demands, its time to enforce your rights in court. Experience has shown that the longer an account is in arrears the less likely you are to get paid.

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Paul K. Silverberg, Esq.