Great Lakes Media and Digital Marketing Late Payment and Deadline Policy
Payment Terms and Agreement: Payment terms must be agreed upon in advance of services being provided by Great Lakes Media and Digital Marketing. These terms will specify the number of days allowed for payment, which begins to accrue from the date the invoice is officially submitted to the client. Even if the date on the invoice is earlier, the accrual of days will not start until the invoice is formally submitted. Payment is considered late if it is not received within 2 days after the net terms outlined in the agreement between Great Lakes Media and Digital Marketing and the client have expired. An official day ends at 5 PM Eastern Time Zone, Monday through Friday.
Late Payment Fees: Failure to make payment on time will result in a late fee of up to $10 per billed hour on the late invoice. Clients must notify Great Lakes Media and Digital Marketing in writing if a payment will be late, providing the reason for the delay and the expected payment date. The following fee schedule will apply to repeated missed payments:
- First Missed Payment: Warning
- Second to Third Missed Payments: $10 per billed hour per late invoice
- Fourth to Fifth Missed Payments: $20 per billed hour penalty per late invoice
- More than Five Late Payments: $50 late fee per billed hour per late invoice
Missed Deadlines Due to Client Delays: If a deadline is missed or work has to be redone due to incorrect information provided by the client, the client will be charged up to $50 per additional work hour above the agreed-upon hourly rate at the start of the project. If a deadline is missed because the client fails to provide requested information in a timely manner, a fee of $50 per hour above the agreed-upon work rate will be applied. Clients will be notified in writing that deadlines are approaching no later than 48 hours prior to the deadline for materials. Additionally, clients will be notified no later than 7 days before the official project deadline if the project will be missed due to unmet requests for information from Great Lakes Media and Digital Marketing.
Missed Deadlines Due to Internal Reasons: If Great Lakes Media and Digital Marketing is going to miss a deadline for internal reasons, clients will be notified 7 days prior to the deadline for the project that the deadline will be missed, including the reasons for the missed deadline and the expected project completion date. Clients will not be billed any overage time for the additional hours required to finish the project.
Notification of Changes: Great Lakes Media and Digital Marketing reserves the right to change the terms of this policy without notice. Clients will be notified of any changes via email to the billing contact on file. It is the client’s responsibility to ensure their billing contact information is up to date. Failure to do so will not be considered a valid reason to waive the fees or penalties associated with late payments or missed deadlines once assessed.
This policy is designed to ensure timely payment for services provided and to maintain a professional and efficient business relationship. Great Lakes Media and Digital Marketing appreciates your adherence to these terms.