Should we pay a retro bill for management fees?

[hockeynomad]

We received a bill for retro charges from our insurance company for administering our company's pension plan for the period from 2004 to 2008 for management fees that were not invoiced till recently.

We did sign a contract that we were liable for fees each year, but only received an invoice in 2009. We did only pay for the charges of 2008, and especially with the prsopects of a bleak financial year in 2009, do not feel we should pay fees for the years 2004 - 2007.

We would encounter great difficulty securing payment had we retroactively charge our customers for charges going back so far.

The insurance company has vounteered a willingness to go half way and requested payment for only 2006 - 2007, but we feel the window of opportunity has long passed.

We are in the Toronto, Ontario area, and so laws may differ, but again many laws are similar to U.S. jurisdictions.

 

[HomeGuru]

We received a bill for retro charges from our insurance company for administering our company's pension plan for the period from 2004 to 2008 for management fees that were not invoiced till recently.

We did sign a contract that we were liable for fees each year, but only received an invoice in 2009. We did only pay for the charges of 2008, and especially with the prsopects of a bleak financial year in 2009, do not feel we should pay fees for the years 2004 - 2007.

We would encounter great difficulty securing payment had we retroactively charge our customers for charges going back so far.

The insurance company has vounteered a willingness to go half way and requested payment for only 2006 - 2007, but we feel the window of opportunity has long passed.

We are in the Toronto, Onario area, and so laws may differ, but again many laws are similar to U.S. jurisdictions.

**A: can't you read? And is Onario a new province or something?

 

[Zigner]

We received a bill for retro charges from our insurance company for administering our company's pension plan for the period from 2004 to 2008 for management fees that were not invoiced till recently.

We did sign a contract that we were liable for fees each year, but only received an invoice in 2009. We did only pay for the charges of 2008, and especially with the prsopects of a bleak financial year in 2009, do not feel we should pay fees for the years 2004 - 2007.

We would encounter great difficulty securing payment had we retroactively charge our customers for charges going back so far.

The insurance company has vounteered a willingness to go half way and requested payment for only 2006 - 2007, but we feel the window of opportunity has long passed.

We are in the Toronto, Onario area, and so laws may differ, but again many laws are similar to U.S. jurisdictions.

US Law Only -

But, if you were in the US, I'd say "Take the deal"