Hazardous Weather Outlook; Local Climatology; Mid-South Observations; More Current Weather
Business Jargons A Business Encyclopedia. Going-Rate Pricing. Definition: The Going-Rate Pricing is a method adopted by the firms wherein the product is priced as per the rates prevailing in the market especially on par with the competitors.
The customer does not have the right to defer payment after the due date, but agrees to pay a charge for late payment. To be considered a late charge, the merchant must treat the account as past due if payment is not made and not allow the customer to add more charges to the already past due account. The maximum rate is 1% per month, or 12% per year. A typical agreement concerning a late payment charge would be a statement on the sales slip or service agreement stating:  Payment is due within 30 days of sale.