The draconian practice of big corporations/companies subjecting smaller companies or self-employed individuals to 90 day payment terms needs to be stopped.  While 90 day payment terms are considered “bad form”  they are not illegal.  Many small companies & individuals suffer hugely because of this.  Many go bust.

Cash flow is the back bone of any small company,  if they haven’t got the cash, they can’t pay their suppliers or staff.  If they can’t pay their suppliers or staff, they, in turn, can’t operate properly.  Staff can’t pay their mortgages or rent on time, childcare fees, utility bills etc.  

The stress this practice puts on small companies & individuals is huge.  It increases the need for credit, interest payments,  late payment fees and so on, all of which hurt cash flow.  It also clogs up the local economy.

If large corporations/companies expect smaller companies & individuals to supply them with top quality work and products, the very least they can do to accommodate this is to pay up within 30 days.  

So – please sign to have the practice of 90 day payment terms banned.  

I propose:

30 day payment terms to be standard practice.

60 day payment terms by agreement of BOTH parties