Definition

A note on your bill reminding you of the fixed fee for each service. It ensures you are aware of your payment responsibilities.

What to consider

  • Pay on time to avoid additional fees.
  • Understand the fee structure for late payments.
  • Set reminders or auto-pay to prevent delays.

Real world scenarios

  • After a delayed payment, Karen’s billing statement featured a late fee notice explaining the extra charge.
  • John received a clear late fee notice on his invoice for missing the due date.
  • Linda’s statement included a late fee notice, prompting her to set up automatic payments.

Related terms

Healthcare