C.O.D.'s Get A Discount

by Chuck Hunter
(Wadsworth, OH, USA)

I own and operate a small fire protection business. Most of my customers are restaurants with cash on hand, and most of their invoices are usually under $100.

When I perform the semi-annual maintenance on their kitchen fire suppression systems, I will have them sign the bottom of the invoice and tell them up-front "You can send a check to this address, or if you want to pay today, you'll receive a $X discount on your next inspection."

Nine times out of ten, they will grab cash from the till or write out a check on the spot. If a customer mails a check, and it's late on more than one occasion, I let them know when scheduling the service that I require payment at the time of service and give them the exact amount that will be due when I show up (including any past due amount).