This article details two measures your small business can take to make it easier to collect on outstanding invoices. The first such measure is to be careful at the time of billing to enter into a detailed written agreement with your customer; such an agreement should detail the terms and conditions of their obligation to pay. Secondly, you should implement billing practices which make each of your outstanding accounts qualify as an "account stated." This is a legal term of art, and much of the article is spent examining the actions you need to take to meet that standard.
- Summary by FizzLaw Team
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Increasing your Chances of Collecting Outstanding Invoices