IT Contractors - monthly payment?

[cykophysh39]

Within 30 days of whenever I decide to invoice. Sometimes I invoice straight away, sometimes I may wait a few months then bang in multiple invoices at once...

No way!! I don't leave it that wildly, Money must be in!!!

[pippo]

I prefer very much to be paid weekly to minimize the risk of non-payment. Although this risk might be low it is still a risk: ask all the contractors who lost money due to their agency going bust. Much better to work with an agency that pays weekly: i fax the timesheet on monday, they pay by friday. Not all agencies offer this at the moment but i will give preference to those agencies that pay me this way.

[cykophysh39]

Now wouldn't a daily option be grand!!!

[Diestl]

This is my first contract and I am paid weekly, I have to say I'm thankful for that as it made the initial financial jump easier, however now that I have backup money I don't mind too much.

[ratewhore]

I prefer very much to be paid weekly to minimize the risk of non-payment. Although this risk might be low it is still a risk: ask all the contractors who lost money due to their agency going bust. Much better to work with an agency that pays weekly: i fax the timesheet on monday, they pay by friday. Not all agencies offer this at the moment but i will give preference to those agencies that pay me this way.

Then credit check the agency to reduce the risk...

[oxtailsoup]

Monthly, always invoiced monthly. And to be honest I find that a pain in the arse so couldn't imagine going weekly and having to get the invoice and signed timesheets etc every week.

[rootsnall]

Weekly is too much hastle. I would only consider weekly if I was dealing with a potentially dodgy agency but most of them wouldn't be offering weekly terms anyay. My current agency kept badgering for weekly timesheets but once they realised they weren't going to get them they gave up.

[spoons]

I have a weekly payment option, but still only invoice monthly.

Mainly because otherwise I could only invoice on dates deemed by the agency

[Ennui]

Monthly is fine by me. I seriously doubt there are many legitimate businesses in my industry that would expect to invoice and be paid weekly.

Surely weekly payments cause a cashflow nightmare for small agencies making them less likely to survive long term.

[Diestl]

It's bigger agencies who are more likey to pay weekly as they have the cash reserves, smaller ones will want to pay monthly. Also any person with an IQ > 10 will want to have the money as soon as possible, unless you like giving away interest to your agency?