Getting Paid
» Getting Paid, Volume 1, Issue 7, 2001
If respondent extends credit or special terms.
3b. Do you charge a late fee, interest, or both a late fee and interest for late payment?
| Response | ||||
|---|---|---|---|---|
| 1 | Yes, a late fee | 11 | ||
| 2 | Yes, interest charges | 17 | ||
| 3 | Yes, both | 8 | ||
| 4 | No | 63 | ||
| 5 | DK/Refuse | 1 | ||
| Total (%) | 100 | |||
| N | 396 | |||
Notes: Sixty-three (63) percent of small employers who extend credit or special terms do not charge either a late fee or interest when a customer pays late (Q#3b).
