Payment terms 30 days

[JamJarST]

And how much margin are they taking? Seriously, it's tulip like this that that agents are paid handsomely to deal with.

15%

[lukemg]

I don't give a sh1t what terms the agency is on, this is one of the very few things they are doing for the money. I want the cash asap, 7 days is ok, 14 is the absolute max.
Dig heels in, they will buckle rather than lose the contract.

[PinkPoshRat]

What I have done in the past, where payment terms are on monthly payment basis, is ask whether I can be paid weekly for the first few weeks. So far it's always worked out ok.

[ratewhore]

I've worked 30 days payment terms before on a number of occasions. I've been direct on 90 days as well so I don't really see what the issue is.

As long as I've credit checked the agency and they are good for the right amount then i understand it's a business decision for them and a constraint I can live with.

Can't say I agree with freaking out wanting the cash in the bank within the week but each to their own...

[simplicity]

My agency pays via this method and I hate it. Each month I worry whether or not they will pay me. Payment was due yesterday and when I called them they said it will be made today as they had staff shortages!! Gets me so cross as direct debits etc. then get missed. There is no flexibility to change frequency. Its a case of like it or lump it. The only advantage is that the agency have a long term relationship with the client which means contractors stay for years in many instances on a good daily rate.

[The Agents View]

My agency pays via this method and I hate it. Each month I worry whether or not they will pay me. Payment was due yesterday and when I called them they said it will be made today as they had staff shortages!! Gets me so cross as direct debits etc. then get missed. There is no flexibility to change frequency. Its a case of like it or lump it. The only advantage is that the agency have a long term relationship with the client which means contractors stay for years in many instances on a good daily rate.

Surely in this situation, you'd put your Direct Debit dates to a week after you've been paid like any other normal person? I've just had to move mine because work pay me on the 27th, instead of the 15th.... So I've changed mine to come out on the 3rd.

Plus....your direct debits have nothing to do with your limited company, so you should have enough money in your pot to pay yourself for a couple of months to cover this situation.

[BA to the Stars]

Surely in this situation, you'd put your Direct Debit dates to a week after you've been paid like any other normal person? I've just had to move mine because work pay me on the 27th, instead of the 15th.... So I've changed mine to come out on the 3rd.

Plus....your direct debits have nothing to do with your limited company, so you should have enough money in your pot to pay yourself for a couple of months to cover this situation.

Just to clarify re direct debits and dates of collection

Direct debits - it is the business collecting the money that sets the dates of collection not the payee. You would have to ask the organisation to whom you are paying if they can adjust the payment dates

Standing order - it is the payee that sets the date when the funds leave the account