48hrs notice period?

[TomS]

Hi

I have been contracting in the financial services sector for a while but for the first time I came across a contract where the notice period is 48hrs only.

I am not sure whether it is worth me committing to this contract given that the agency can withdraw after signing and before I actually start working. Is such a short notice period normal in the FS sector?

Tom

[Old Greg]

Hi

I have been contracting in the financial services sector for a while but for the first time I came across a contract where the notice period is 48hrs only.

I am not sure whether it is worth me committing to this contract given that the agency can withdraw after signing and before I actually start working. Is such a short notice period normal in the FS sector?

Tom

The thing is Tom, if they want to get rid of you, they will get rid of you no matter what the notice period. If you have a one month notice period, they can usually give you a month's notice to terminate the contract and then advise that no work is available and no work = no invoice. I see the contract period as a wrapper within which work may be undertaken. Others may disagree and say that a longer notice period gives you more protection. Others may have a view that a very short notice period is good for IR35 as it suggests a lack of mutuality of obligation.

Almost all contracts can be withdrawn before work starts.

I don't have FS experience but I'm not sure the sector is relevant. Take the contract if it's otherwise good, but as always, keep looking until the day you invoice.

[eek]

Hi

I have been contracting in the financial services sector for a while but for the first time I came across a contract where the notice period is 48hrs only.

I am not sure whether it is worth me committing to this contract given that the agency can withdraw after signing and before I actually start working. Is such a short notice period normal in the FS sector?

Tom

My current notice period is the length of a phone call either way. Perfectly happy with it (although my end client aren't when they discovered it as they expected it to be 2-4 weeks).

[Lance]

I have been contracting in the financial services sector for a while but for the first time I came across a contract where the notice period is 48hrs only.

It works both ways I assume. So what's the issue? If you do good work then fine, if not then you're stuffed anyway.

[MrMarkyMark]

Hi

I have been contracting in the financial services sector for a while but for the first time I came across a contract where the notice period is 48hrs only.

I am not sure whether it is worth me committing to this contract given that the agency can withdraw after signing and before I actually start working. Is such a short notice period normal in the FS sector?

Tom

Not FS, but a number of years ago I had 5 hours notice, told to leave at the end of the day, as they were "out of budget".
Notice periods can often turn out to be worth Jack, in any case.

[northernladuk]

You do realise your actual notice period is zero days and they can terminate you on the spot in all contracts don't you? #generationsnowflake.

[uk contractor]

As they have 48 hours in writing I presume they intend to enforce that so avoid the contract unless your desperate for the money-work. As others have said your effectively always on short notice regardless of what the contract says anyway but 48 hours seems like they suspect they need that clause sooner rather than later! Its most likely only a few days work anyway hence the short notice period.

[eek]

As they have 48 hours in writing I presume they intend to enforce that so avoid the contract unless your desperate for the money-work. As others have said your effectively always on short notice regardless of what the contract says anyway but 48 hours seems like they suspect they need that clause sooner rather than later! Its most likely only a few days work anyway hence the short notice period.

It's worth reading what NLUK states above as if a client wants to get rid of you they can do it as of now with no notice.

All they need to say is that we have no more work for you bye and that's the end of the contract regardless of the paper saying 1 hour or 2 years.

[cojak]

And of course if they can't arrange a suitable handover from you in that period, it's no skin off your nose...

[northernladuk]

Where it probably won't help with the 48 hours notice the OP if anyone is worried about the agents welching on contracts before they start you should get IPSE+ membership. They have a business interruption option that will pay out up to £1000 should the agent not honour some aspect of the contract. If they cancel the contract before you start without the proper notice there is nothing you can do about it but you can claim from IPSE+. Better than a kick in the nads, unless that's your thing.