# Set payment terms, deposits, and late fees for client work

Payment terms that protect my cash flow, with deposit rules, milestones, late fees, and wording for contracts and invoices.

- Topic: Finance & Accounting
- Framework: Few-Shot
- Level: Standard
- Tags: Finance, Legal, Plan, Fill-in Template
- Source: https://www.thinkwithprompt.com/prompts/set-payment-terms-deposits-and-late-fees-for-client-work

## Prompt

```text
Help me set the payment terms I use with clients.

**My business:** [service, solo or team, typical project size]
**Current terms:** [e.g. "invoice at the end, net 30"]
**Problems I've had:** [late payers, clients disappearing, cash flow gaps]
**Typical client types:** [small businesses, enterprises with procurement, individuals]
**Where I'm based and where clients are:** [COUNTRY / STATE]

Give me:
1. Recommended terms for each engagement type I do (project, retainer, hourly): deposit size, milestone schedule, payment due dates, and accepted payment methods.
2. How to handle large clients that insist on long payment terms or purchase orders (e.g. price adjustments, invoicing earlier, smaller milestones).
3. A late payment policy: reminders, when work pauses, late fees or interest, and when I stop delivering. Note that late fees and interest limits vary by location, so I should check local rules.
4. Contract wording for payment terms, written plainly, marked as a draft for review.
5. Invoice wording and a footer that states terms clearly.
6. A script for explaining the deposit to a client who pushes back.

This is general business information, not legal or tax advice. Recommend I verify the contract wording and any late-fee limits with a qualified professional.
```

## What to fill in

- service, solo or team, typical project size
- e.g. "invoice at the end, net 30"
- late payers, clients disappearing, cash flow gaps
- small businesses, enterprises with procurement, individuals
- COUNTRY / STATE

Free to copy and use. From ThinkWithPrompt (https://www.thinkwithprompt.com/), a library of 2,663 curated AI prompts.