▲ 8 r/Businessowners
Got moved to prepay for being late on payments
I placed an order and it got rejected so I gave our supplier a call only to find out they moved us to prepayment only.
We've been late on payments and they changed our terms but nobody informed me and it lead to this being a problem. I went back through our records and from what I could see they were right and we were a few days late for most of last year.
Granted this process was done by whoever had bandwidth at the time to flag them and we weren't as strict as we should have been but this is on us and losing good terms with a supplier you rely on is a huge cost.
u/MemeSurvivor3000 — 3 days ago