Late Payment Policy and Fees

Introduction

Timely payments are essential for maintaining uninterrupted service and ensuring smooth operations. At ALCO USA Inc., we have a clear late payment policy designed to protect both our clients and our business. This article explains what happens when payments are delayed, the fees involved, and how you can avoid late charges.

Why Timely Payments Matter

Late payments can cause:

• Service interruptions
• Additional administrative costs
• Delays in project timelines

By paying on time, you ensure:

• Continuous access to managed services
• Compliance with your service agreement
• Avoidance of unnecessary fees

Standard Payment Terms

• Invoice Date: For most clients, invoices are issued on the first day of each month
• Due Date: Payment is due within 15 days of the invoice date
• Grace Period: An additional 5 days after the due date before late fees apply

Late Payment Fees

If payment is not received by the end of the grace period:

• Fee Amount: $25 or 1.5% of the invoice total, whichever is greater
• Recurring Charges: Late fees apply to each overdue invoice
• Compounded Penalties: Continued delays may result in additional charges

Service Suspension Policy

• Services may be suspended after 15 days past the due date
• Suspension includes managed IT support, hosting, and other contracted services
• Reactivation requires full payment of overdue invoices plus late fees

Impact on Your Account

• Overdue status will be reflected in ALCO Vault
• Notifications will continue until payment is received
• Persistent non-payment may lead to contract termination

How to Avoid Late Fees

• Pay promptly: Complete payment within the 15-day window
• Enable reminders: Keep email notifications active
• Set up auto-pay: Use QuickBooks Online to automate recurring payments
• Communicate early: If you anticipate delays, contact ALCO before the due date

Notifications and Alerts

• Invoice Notification: Sent when the invoice is posted
• Reminder Email: Sent 5 days before the due date
• Overdue Alert: Sent immediately after the grace period ends

Troubleshooting Payment Delays

• Payment failed? Verify card details or bank account information
• ACH transfer issues? Confirm routing and account numbers
• Technical errors? Clear browser cache or try a different browser

FAQs

Q: Can late fees be waived?
A: Fees may be waived in exceptional cases if you notify us before the due date.

Q: What happens if my account is suspended?
A: Services will resume once all overdue invoices and fees are paid.

Q: Can I set up a payment plan?
A: Contact your account manager to discuss available options.

Compliance and Security

All payment data is processed through QuickBooks Online, ensuring PCI DSS compliance. Your financial information is encrypted and handled securely at all times.