Most businesses rely on a multitude of relationships for success. When something goes wrong in one of them, it can cause massive disruption to the whole enterprise.
Hence you need to think carefully about how you handle them. Here are some questions to ask yourself:
Do you have a contract? If so, what does it say?
A well-written commercial contract should make provisions for problems, as issues are bound to occur at some point. If you have not read your agreement since you made it, dig it out and see what it says.
It might be that one of you misremembered what you had agreed to do, and a reminder of the original agreement is all it takes to solve things. Or, you might need to examine the procedures you set out to resolve disputes or end the relationship early. You might even find your contract has already expired, which would change the whole situation.
How valuable is this relationship?
The idea of treating everyone the same is not that practical in business. While you should never discriminate against people, it’s logical to treat some business partners better than others. For example, if you have payment issues with a minor customer who is always a problem to work with, you might threaten a lawsuit. If they are your best customer, you might consider taking a softer approach to try and keep them.
No business dispute is the same. Getting legal help to work out the best options for your particular situation can help you make the correct decision.