Agency in administration - Coal IT

[happlessBeaker]

Really sorry for you (and others) caught by this but have to respond on your "Only red flags appeared January 2017" comment. It was posted in the 'Agencies To Avoid' thread in December that people working through Coal IT were having payment issues.

Sorry you missed those posts.........

I was one of the ones who made the warning about this agency last December. Unfortunately I can't say I ran off the storm without a scratch that I knew that was coming. The client was important for me and there was a binding clause that I can't make business with them if I left the agency. And even when you are aware the agency is crap when you leave them there would be an unsettled invoice which you would get it paid by far more difficultly when there is no business tie left with the agency.
Can someone write here what sort of insurance you can make in order to decrease your damage when you are aware the business deal with the agency is likely to be a rip-off in the end?
And btw is it only me who wonders how come so many clients preferred to work with such an agency who was liquidated just a couple of years ago? Does not it stink already to high heaven when a company comes back again with just a slightly different name?

[LondonManc]

I was one of the ones who made the warning about this agency last December. Unfortunately I can't say I ran off the storm without a scratch that I knew that was coming. The client was important for me and there was a binding clause that I can't make business with them if I left the agency. And even when you are aware the agency is crap when you leave them there would be an unsettled invoice which you would get it paid by far more difficultly when there is no business tie left with the agency.
Can someone write here what sort of insurance you can make in order to decrease your damage when you are aware the business deal with the agency is likely to be a rip-off in the end?
And btw is it only me who wonders how come so many clients preferred to work with such an agency who was liquidated just a couple of years ago? Does not it stink already to high heaven when a company comes back again with just a slightly different name?

You shouldn't need insurance. It's all about the dunning process.

[northernladuk]

You shouldn't need insurance. It's all about the dunning process.

IPSE+ covers you for agencies going bump but I doubt it's anywhere near the potential if you are on monthly cycles. Still takes the sting out of the tail.

Actually here it is..

https://www.ipse.co.uk/about-us/busi...ption-services

10k net of VAT

[RonBW]

IPSE+ covers you for agencies going bump but I doubt it's anywhere near the potential if you are on monthly cycles. Still takes the sting out of the tail.

They also provide cover for if the contract is not as described. Not sure quite what that means or what the payout level is, but it's got to be better than a poke in the eye.

[northernladuk]

They also provide cover for if the contract is not as described. Not sure quite what that means or what the payout level is, but it's got to be better than a poke in the eye.

Yup. On same page isn't it?

[happlessBeaker]

IPSE+ covers you for agencies going bump but I doubt it's anywhere near the potential if you are on monthly cycles. Still takes the sting out of the tail.

Actually here it is..

https://www.ipse.co.uk/about-us/busi...ption-services

10k net of VAT

It is a shame I did not know about IPSE and had never thought asking this question although I had that strong bad feeling for the agency from the beginning. I had a lesson to learn. Thanks for the info northernladuk.

[northernladuk]

It is a shame I did not know about IPSE and had never thought asking this question although I had that strong bad feeling for the agency from the beginning. I had a lesson to learn. Thanks for the info northernladuk.

Don't forget to join using the link below to thank me

https://www.ipse.co.uk/join/IPSEMGM1094

[RonBW]

Don't forget to join using the link below to thank me

Or given where we are, you could click on the advert and get a discount on membership instead.

[malvolio]

Although almost all such rules are PS or manpower replacement for PS clients so perhaps not all that wonderful from now on...

Also transfer of clearance bertween roles is not guaranteed

[chopper]

IPSE+ covers you for agencies going bump but I doubt it's anywhere near the potential if you are on monthly cycles. Still takes the sting out of the tail.

Actually here it is..

https://www.ipse.co.uk/about-us/busi...ption-services

10k net of VAT

Having read that - the maximum paid out in the event of the failure of any one agency is £150k. So potentially, if more than 15 IPSE+ members are affected, then the payout would be less than £10k. As its own example shows, 50 IPSE+ members and only £3000 gets paid out.