Charging the customer a penalty on late payment
Q: What can a company do to customers who default in their credit payments?
1. Can a company charge them a penalty for exceeding their credit term? If not, what are the Shar’ee alternatives?
2. Sometimes, customers who exceed credit terms request proofs of deliveries again, although an invoice was sent to them with the delivery. Can a company charge them for this, just as Fnb and any other bank charges for producing a statement over 3 months old?