Agency Payment Terms

[SimonMac]

Just floating an idea, would it be useful to collate a list of payment terms by agency?

Something along the lines

Self Billing Yes/No
Time sheets Weekly/Monthly
Payments 30 days/7 days

Nothing more than that, just so when people get offered a new gig they have a rough idea of terms as sometimes this can be a swing vote when deciding

[northernladuk]

Gotta say I'm not so sure about this. Are we sure that an agent has the same terms across all contractors and all clients? Would it not be possible for an agent to have different terms depending on whether the contractor is hourly or daily and what the clients payment cycles are or something? Do people not negotiate some of these up or down so whatever figure we put maybe misleading? Not only misleading but could lead to assumptions so contractors agreeing to terms because it says so on here when they could get better? Not bother checking their contracts because we said it's this and so on?

Spoon feeding information when people should be reading and understanding the situation in every individual case may not be the most helpful thing to do?

That said can't see the harm in trying in a sticky somewhere until it can be proven the information is not accurate or something?

[TykeMerc]

If it was consistent I'd agree it could be a handy resource, but from personal experience I can say that it varies within an Agency. That's not with negotiation, just different terms offered up front, different clients and Agent offices of course.

[BolshieBastard]

Er what!?

Tell them your payment terms as a condition of accepting the job. Once you've got the client's offer, you have them over a barrel as the client wont want them to lose you.

[TykeMerc]

Er what!?

Tell them your payment terms as a condition of accepting the job. Once you've got the client's offer, you have them over a barrel as the client wont want them to lose you.

Got to love that kind of optimism. It's a matter for robust negotiation.

No matter how niche your skillset there's nothing stopping the Agent telling the client you're not available or able to agree acceptable terms.

[SueEllen]

I was with one agency at a client where different contractors billed differently so:
1. A few billed weekly and then got paid 30 days later
2. A few billed weekly and then got paid 6 weeks later
3. A few billed monthly and got paid within in 10 working days
4. A few billed monthly and got paid within 20 working days
5. A few newbies billed monthly and got paid 6 weeks later.

Then I've been at clients where it was stipulated that the agency had to pay the contractor's invoice within 10 days. However the agencies standard time was longer.

[Boney M]

i think it would be good but again as others said I have negotiated different payment terms with an agency than other contractors have.

Think it could be simplified though and basically cover whether weekly or monthly payment as that is what most are bothered about

[BolshieBastard]

Got to love that kind of optimism. It's a matter for robust negotiation.

No matter how niche your skillset there's nothing stopping the Agent telling the client you're not available or able to agree acceptable terms.

Optimism? AYCOTBAC?

Dont you set out your T&C's for a role or do you glibly bend over when the agent says so?

[MrMarkyMark]

Optimism? AYCOTBAC?

Dont you set out your T&C's for a role or do you glibly bend over when the agent says so?

This.
Everything is negotiable and it is best to go in with the right attitude from the start.

Terms can differ from individual to individual, even though they all work through the same agency, purely down to this.

[garethevans1986]

I do tend to ask what their payment terms are these days. Nothing worse than signing a new contract to find you bill weekly but it's on 28 days payment terms...

GE