Can a company add finance charges and interest to shipping charges?
normies112 asked:
I ordered an Airdyne Bike and when it was delivered, it never made it off the UPS truck. They are charging me shipping charges, which I completely understand i’m responsible for, but those charges are accruing interest, and finance charges. I thought the interest and finance charges would be applied to the actual merchandise.
I ordered an Airdyne Bike and when it was delivered, it never made it off the UPS truck. They are charging me shipping charges, which I completely understand i’m responsible for, but those charges are accruing interest, and finance charges. I thought the interest and finance charges would be applied to the actual merchandise.
Tags: Company Finance, Ups, Ups Truck
May 4th, 2010 at 12:33 pm
Yes they can - as long as the invoice or agreement states that finance charges apply. They paid the shipping, now you need to reimburse them, the longer you delay the higher the fees and 1.5% per month amounts to 18% per year.