Agencies to avoid....

[rd409]

Why is 60 days unworkable?

Honestly speaking, 60 days credit is a bit too much. Only big companies with a reputable name like M&S, Tesco and likes can demand more than 45 days of credit. I know of a small manufacturer who wanted to sell through Tesco and they asked for 120 days credit. Eventually he managed to negotiate to 90 days, but the only reason these company get away with this kind of credits is because banks honor their PO as good as cash, and some companies also lend you money if you need on these POs. Try using the invoice to any agency, even the biggest one and run past your bank manager and you would know why he is worried.
I would only give credit worth 10k to any agency, as that is the amount covered by my insurance in case of agency going bust. Call me risk averse, but I am not yet on a stage in my life/career where, I can gamble these amounts. I would rather accept a slightly lower rate, than provide huge amount of credits to agencies.

[d000hg]

Hey, we're allowed to bad-mouth companies now? Cool

[Wanderer]

Why is 60 days unworkable?

Take your daily charge out rate, multiply it by 40 and see how much credit your business will be extending to them. What if the agency goes bust? That's a lot of money you have lost. I tell them that my business will not extend more than 30 days credit. If they want to pay on 30 day terms then I'm invoicing weekly too, not monthly.

[JamJarST]

ECOM is one to avoid...they totally ignore 30 day payment terms..the 30 days starts from the following wednesday 'because that's when we do our payment run'....I said, well then you need to make sure you do it for me the wednesday before 30 days is up....

Escape also have 60 day payment terms, which are unworkable

To be fair that is standard working practice for lots of companies not just agencies. in a past life many years ago I headed up the AP department of a large retailer in South Africa and we only did one weekly payment run for the majority of our suppliers and we never paid early.

[northernladuk]

ECOM is one to avoid...they totally ignore 30 day payment terms..the 30 days starts from the following wednesday 'because that's when we do our payment run'....I said, well then you need to make sure you do it for me the wednesday before 30 days is up....

Escape also have 60 day payment terms, which are unworkable

Why is 60 days unworkable?

[keitho]

ECOM is one to avoid...they totally ignore 30 day payment terms..the 30 days starts from the following wednesday 'because that's when we do our payment run'....I said, well then you need to make sure you do it for me the wednesday before 30 days is up....

Escape also have 60 day payment terms, which are unworkable

[Sausage Surprise]

I never said they are the best. But when most of the agencies are now opting for 4 weeks payment terms, I guess 3 weeks is acceptable. Ideally, I would always like the payment terms to be 7 days max, but then this is business, and you can't really have it your ways always. I just tried to put another view of Lorien (or any agency).

Are they? My last 4 contracts have all paid weekly. Timesheet by Tues/Wed and payment on Friday.
Positive rep goes to:

Timothy James Consulting
Fine Green Associates
Badenoch & Clarke
Fruition IT

[AussieDigger]

Yeah, i remember some time back having a bad experience with a company called Glue. Thought it was a one off but then I found a few others had vented their dissatisfaction as well....

Glue London Reviews | Glassdoor

Wonder if anything has changed then ?

[BolshieBastard]

Havent heard of them. What makes them so bad?


My recommendation to avoid is Hayes. They are the worst agency I have ever come across. The worst thing is, how many hoops they try to make contractors jump through. They might as well employ dolphins.

I think he meant REGRESSIVE as they were colloqually known!

[wim121]

Progressive

Havent heard of them. What makes them so bad?


My recommendation to avoid is Hayes. They are the worst agency I have ever come across. The worst thing is, how many hoops they try to make contractors jump through. They might as well employ dolphins.