Re: System 34

[dhandy@xxxxxxxxxxx (Douglas Handy)]

Tom,

>The nature of their business 
>requires that customers pay their bill - in full, by law - within 30 days 

Reminds me of when I was working with a bulk commodity trucking firm
converting from a S/3 to the S/34 while there was still lots of
regulation in the industry.  ICC rules said that firms, by law, had to
pay the manifests (invoices) within 7 days.

Of course, not everyone did.  But by law the ICC prohibited them from
charging interest on stuff over 30 days old.  The ICC reasoned that
the trucking firms shouldn't need to be able to charge interest, since
manifests "had" to be paid within 7 days.

The problem was that some people realized they were prohibited from
charging interest so guess what?  Not everybody paid within 7 days, or
even 30 days for that matter...  And they got by with it interest
free.

The ICC had some really dumb rules in those days.

Doug
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