Is there is a limit on the amount of time a vendor has to send an invoice?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Is there is a limit on the amount of time a vendor has to send an invoice?
One of our vendors will wait months to send us bills for services rendered. Then, when we do receive a bill, it is for a large amount which is very difficult for our small operation to manage. We find it difficult to keep up with these large bills.
Asked on October 16, 2013 under Business Law, Illinois
Answers:
Terence Fenelon / Law Offices of Terence Fenelon
Answered 10 years ago | Contributor
There is no tome limit in wjich to send an incoise, although it is very poor business management on the part of the vendor to delay to such an extent. YOU should be anticipating the amount owed to the vendor by putting aside funds to pay the invoices as the products or services are rendered. If you are suspicious of the high amounts, compare the invoices with the actual services to determine if you are being invoiced at an agreed upon schedule. You might be taken advantage of if you blindly pay invoices without checking their veracity. YOU should stay alert.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.