One Man Band Agents

[QuickQuestion]

We are all freelancers, and at one stage made the jump from the corporate shackles, and I have seen a few agents who have done the same.

One such I have know for a while when they were working for one of the bigger firms, although never engaged through them been put forward for roles etc and build up a good rapport so always think of me when they have a suitable role.

In January this year they went solo and I have been talking to them about a very good local gig, in fact so perfect it ticks all the boxes, interviewed last Friday and feeling positive about an offer later today, now normally the agency doesn't come into play much, as long as the payment terms are reasonable and the contract passes review, however this has my spidey sense tingling, I can't credit check them as they are less than a year old so no accounts have been submitted.

What mitigations can I reasonably take to cover my arse if there are payments issues.

Thanks in advance

QQ

[Bluespider]

Ultimately you are at the mercy of the Agency managing their accounts and having a bankroll big enough to cover your invoices. If they go under you are waaay down the list of people who will get paid.

I would try and get weekly invoicing/payment sorted out with them to minimise your exposure.

[LondonManc]

Bluespider has pretty much nailed it. If you consider that you have a good enough working relationship and they're local enough, get down there and meet up and discuss your concerns face to face.

[MrMarkyMark]

If you have "known him for a while", I'm sure you won't have any problems.

[northernladuk]

Check the IPSE+ membership to see if it covers agents going bump.

Getting weekly payment is going to be hard if the agent has no cash. You'll have to get a couple of days longer than the client pays at first I would have thought. Yes push for it hard though.

[northernladuk]

Oh and make sure you get your opt in/out right. I don't think there is any legal precedence yet but but might be part of your arsenal should the worst happen.

[Safe Collections]

Ultimately you are at the mercy of the Agency managing their accounts and having a bankroll big enough to cover your invoices. If they go under you are waaay down the list of people who will get paid.

I would try and get weekly invoicing/payment sorted out with them to minimise your exposure.

This +1.

If you have a good working relationship you could also try and get a personal guarantee written in to the contract (by a solicitor, don't try and do it yourself). If drawn up correctly this would make the director/owner personally responsible for any debt to you the company can not pay.

Their reaction to the suggestion would likely tell you a great deal about how they see their new venture as well...

[MrMarkyMark]

If you have a good working relationship you could also try and get a personal guarantee written in to the contract (by a solicitor, don't try and do it yourself). If drawn up correctly this would make the director/owner personally responsible for any debt to you the company can not pay.

Good advice and got to be worth a shot

[uk contractor]

Your choice your risk but your at his financial acumen mercy. As long as your happy that your depending on his integrity to get paid & probably have no way to get anything back if he mismanages his financial affairs & juggles too many balls (or BTL mortgages at once!!)...

I remember a one man band I dealt with in the mid 2000s he was always on time with his payments to me weekly....when I saw his margin from the invoice the client let me see (£700 a week) I understood why he could afford to be!

[MrMarkyMark]

I remember a one man band I dealt with in the mid 2000s he was always on time with his payments to me weekly....when I saw his margin from the invoice the client let me see (£700 a week) I understood why he could afford to be!

Agreed, the one band guy I was involved with did like to cream the commision.
From memory, I think it was 25%.