Hi all
I'm new-ish to contracting. I'm with an umbrella company and had 18 months on one assignment where I was paid monthly - the timesheet was submitted at the end of the month and I received payment the following week. That project was completed at the end of November. After two months of not working (I stayed with umbrella company and didn't claim JSA), I've just been offered a three month assignment away from home only to find the agency payment terms are 30 days from receipt of the approved timesheet submission - so it'll be five weeks before I receive my first weekly payment. The notice period for the assignment is a week (both sides).
I'll struggle to afford the travel and accommodation for the assignment plus pay my mortgage/bills for those 5 weeks and the agency are refusing an interim payment to tide me over. My last agency did, however, offer a mid-month payment to tide me over at the start of my last assignment. The notice period there was 2 weeks from the client, 8 weeks from me.
I'd welcome some input from those with more experience regarding agency payment periods - do all agency payment terms vary so much? Has anyone else struggled financially at the start of a contract?
Thanks in advance
I'm new-ish to contracting. I'm with an umbrella company and had 18 months on one assignment where I was paid monthly - the timesheet was submitted at the end of the month and I received payment the following week. That project was completed at the end of November. After two months of not working (I stayed with umbrella company and didn't claim JSA), I've just been offered a three month assignment away from home only to find the agency payment terms are 30 days from receipt of the approved timesheet submission - so it'll be five weeks before I receive my first weekly payment. The notice period for the assignment is a week (both sides).
I'll struggle to afford the travel and accommodation for the assignment plus pay my mortgage/bills for those 5 weeks and the agency are refusing an interim payment to tide me over. My last agency did, however, offer a mid-month payment to tide me over at the start of my last assignment. The notice period there was 2 weeks from the client, 8 weeks from me.
I'd welcome some input from those with more experience regarding agency payment periods - do all agency payment terms vary so much? Has anyone else struggled financially at the start of a contract?
Thanks in advance
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