CM club - new payment policy.

[FeelingOld]

I am having problems with a parent paying me late virtually every month (2 brothers who have been coming for 13 months and paid me late 10 times). It may only be a few days late but its so annoying, payment this month was due on 4th and its 8th today and still not payed me and mindees don't come again until 11th so bet she pays me then and so payment will be 7 days late. Parent pays me in arrears cos works as a nurse so does different shifts each week so payment varies every month (so paying in advance takes so much working out).
This parent is lovely and so are mindees and don't want to upset anyone so thinking of enclosing a new 'payment policy' with this terms newsletter which I send out this week something on the lines of

Due to some parents paying late I am bringing in new payment policy.
still invoice same date etc but will not accept cheques if payment late (only cash) and there will be a late payment fee of ?5 per day that payment late. Giving parents 28 days notice of this, could they sign the enclosed form to acknowlege receipt of the above and as acceptance of these terms, anyone not in agreement will have to pay in advance.

I will be putting in a few more details but this is basically what I am trying to get over to parents.
Does this seem ok to you?

sounds great to me!

I once had to let 2 mindees go as the parents always arrived late and paid me late and it got so bad I let the work go.

Hope it doesn't come to that for you!

I hope it doesn't come to that either.
Mindees are lovely and so are their parents but by the time they pay me this month and the cheque is cleared it will be the middle of the month. Dh gets really cross when people pay late and wants to bang on their door and stand on their doorstep til they pay but I always reason with him and make excuses for them but quite frankly I am beginning to feel like he does.
What makes it even worse is that on the days this particular parent does not work she sees me in the school playground as her oldest son goes to the same school as my ds so will see her today but she won't pay me.

hi there i have a payment policy that reads something like this :-

I work as a childminder because i love caring for children and supporting their development, however it is my chosen career and business. Like you i too have bills and expenses to meet each month and therefore require a regular income. I would be grateful if you could ensure that you are prompt in paying your monthly/weekly fees as agreed in our contract.

Monthly fees are due no later the the 5th of each calender month.

Late payments will incur a late payment charge of 5.00 per day until full payment is made. If arrears of fees occur I reserve the right to withdraw your childs place until fees are paid.

i know its a bit long, but it works i had one parent pay me late every week. so i changed my policy (which parents signed) and the first week charged an extra 15 pound because payment was 3 days late. funny enough payment has been on time ever since.

My current policy just states about date of invoicing, date payment due etc but when I first started out never thought about late payment fees etc and all other parents pay on time (with the odd exception which I can accept).
The fatfairy - Your policy is to the point but sounds very friendly so will change my policy to something similar to yours if you don't mind my nicking your idea.
Thanks for your help.
Knew I could rely on mn cm club for great advice.

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I now have a £5 per child per day charge as well.

When I take on a new family I give them the choice of whether they pay weekly or monthly and which day/date goes on the contract for payment; so this is usually a day or two after they get their salary payments.

So I get lots of paydays! I prefer this to having it all in on the same day each month but I know that doesn't appeal to everyone.