Posted by caryn keller on 12/5/06 1:34pm
Msg #163989

advanced payment

I've been reading what you guys have to say about betting paid in advance. it seems like a good idea, but maybe hard to get it agreed to. What do you think of this. Recently some of the signing companies I sign for ask for a signing service agreement. or something that says if the borrower cancels, they will be responsible for the notary fee. How about a signing company or Title company agreement to us, that says something like-- they agree to pay us in X amount of days....or it can have whatever terms the individual notary wants , and have it signed and faxed back before the signing takes place?????

Reply by Carolyn Bodley on 12/5/06 1:57pm
Msg #164003

Re: wish in one hand and poop in the other

You aren't the only NSA they have to choose from. Even loyal companies that use us frequently won't be backed into the corner with the type of stipulation you are suggesting.

Reply by John_NorCal on 12/5/06 2:04pm
Msg #164006

Re: wish in one hand and poop in the other

<<< wish in one hand and poop in the other>>>
That's probably the politest way I have ever heard that phrase said!
You're right, no one is going to be backed into a corner over payment issues. The best that can happen is to have an aggresive collection practice with an cost effective collection agency if necessary.

Reply by Gary_CA on 12/5/06 2:05pm
Msg #164007

and see which one gets full first.

Haven't heard that in a while.

Exactly... folks this is an over-supplied market. Just do your job and do a little collecting. It isn't the worst industry for receivables and/or canceled orders.

Not by a mile.

Reply by PL on 12/5/06 2:10pm
Msg #164008

Caryn, do you have a high level of competition in your area? If you do, I think your idea will drive your business into the arms of your competition. I think that if you have a system now that allows for 90+% of you outstanding recipts to be collected in 30 days or less and the rest to be collected in what you consider a reasonable timeframe, I'd stick with that.

Most businesses in this country extend some form of "credit" to their customers and from what I see we are not that different. They have a strategy of who to lend to and who not to. That strategy for us is to have some sort of list of who has been good customers in the past, who has been mariginal and who has done us wrong or whom we believe on various websites we read are "deadbeats".

I think to demand money up front from our customer the TC or SS, or to demand money from the TC's or SS's customer the borrower is not a winning situation. First I think to get paid from the borrower without being on the Hud specifically listed is aginst at best the spirit of Regulation Z. Secondly, I can only think of a few places that requires an upfront payment from me, and that is self-service gas and the Post office. All other business in my life is from some sort of entity extending me time/credit and I think that you will be swimming upstream if you decide to pursue upfront payment. Good luck on whatever you decide.

Reply by caryn keller on 12/6/06 10:26am
Msg #164248

PL and all the rest, you did not read my message. Other notarries have talked about advanced payment. I think that is unrealistic. I asked about a contract that states when we can expect to be paid.