Payment terms

[TykeMerc]

I know that payment terms are negotiable but as yet have never had to do it but whats to stop the agency just saying 'we only run one payment run a month' I could not say whether that's true or not so how could you argue that I would just have to accept it.

It's quite simple, you make it clear what your terms are for accepting the contract, if they won't (can't would be a lie from the agent) meet them then you politely decline to accept the contract and find another one.

[pmeswani]

It's quite simple, you make it clear what your terms are for accepting the contract, if they won't (can't would be a lie from the agent) meet them then you politely decline to accept the contract and find another one.

WHS. Obviously you have to negotiate what is acceptable to you. If the agent won't budge, walk away from the contract. There's always a choice when it comes to negotiation. Accept the terms, negotiate more favourable terms or walk away if you can't get a mutually accepted terms and conditions.

[Wanderer]

nothing has been signed! I got an offer...and I accepted verbally but not signed anything. but now its the negotiating terms that are under way right now.
they said the client pays the agency 45 days. the agency pays contractors 28 days - which is fair enough but still no reason for not asking the agency to pay weekly since after all they are a big agency (£££)

The payment terms between the agency and the client are not your concern. The only thing an agency does once it's introduced you to the client is to factor the payments so they can just get on with it.

If you could get 7 day payment terms on a weekly invoice then go for it but 14 day terms and invoice weekly is a pretty reasonable arrangement in my opinion. There is no reason why a reasonably sized agency can't run weekly invoicing and payments.

[SueEllen]

I know that payment terms are negotiable but as yet have never had to do it but whats to stop the agency just saying 'we only run one payment run a month' I could not say whether that's true or not so how could you argue that I would just have to accept it.

Nothing.

Though I doubt a large agency even if they have contractors who all invoice monthly, runs one pay run a month.

They likely do the invoicing monthly because it's easier for them i.e. in matching up your invoice to theirs with the client.

Though doing weekly timesheets indicates they could easily do weekly pay runs as many weeks in the year span more than one calendar month.

[Scrag Meister]

1st contract, self billed weekly on Tues, paid Fri
2nd contract, invoice monthly paid wthin 4 days
3rd contract, self billed monthly, paid by 26th of the next month, i.e. approx 21 days lag.

Seems my payment terms are going downhill.

[Hobbes]

I did a gig using RealStaffing last year. Payment terms were: submit invoices weekly - first payment after 28 days of first invoice, then weekly payments after that.

Also found out they were taking a huge margin (~48%) but that's another story...