I'm in a 12 weeks contract where the daily rate was not specified in. The contract roughly says that the daily rate will be agreed in separate conversation, I do not have the contract with me to get the right wording but that is the sense.
The daily rate was in fact agreed in an email conversation, in which we agreed for £N for the first 6 weeks, and "market rates" (higher than N) for the remaining 6 weeks.
from the client's email: "let's do a 6 week contract after which we can extend out to another 6 weeks as we close on our seed funding. We should be able to offer you about 300 a day for the first 6 week period after which we have the next seed round of capital to allow us to deal with market rates." - we did sign a contract for 12 weeks.
Now, the client is stating that is unable to face market rates, didn't give me an answer yet on what rate (higher than £N) they might be able to pay, but I was wondering if such email has any value, in case we can't get to a friendly agreement?