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Agency's terms of payment

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    Agency's terms of payment

    Title may be slightly misleading, but anyway, I have recently started a contract with a new agency, and all is good.
    When I was offered the contract, I was advised that there would be a three week delay in my first payment, this I assumed was to get everything in place, and I was not too happy as I had been out of work for several weeks and money was a little tight. I explained this to the agency, who (reluctantly) agreed to pay me a week in arrears, for three weeks, followed by a 2 week break, to get into a cycle where I am am paid three weeks in arrears. Is this standard practice, I have not come across this in the past, and I am used to paying weekly in arrears.
    Last edited by cojak; 19 April 2012, 20:03. Reason: Changed the title for clarity.

    #2
    I'm on 21 day payment terms. It's not great but at least it's not 30 days.

    So it's not unusual, and iat least it's only for the 1st 3 weeks as once you get into the cycle you are paid weekly (provided you are diligent in getting your timesheets in as soon as you can). I certainly wouldn't accept monthly payment with this arrangement.
    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
    - Voltaire/Benjamin Franklin/Anne Frank...

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      #3
      Originally posted by Helpdesk67 View Post
      Title may be slightly misleading, but anyway, I have recently started a contract with a new agency, and all is good.
      When I was offered the contract, I was advised that there would be a three week delay in my first payment, this I assumed was to get everything in place, and I was not too happy as I had been out of work for several weeks and money was a little tight. I explained this to the agency, who (reluctantly) agreed to pay me a week in arrears, for three weeks, followed by a 2 week break, to get into a cycle where I am am paid three weeks in arrears. Is this standard practice, I have not come across this in the past, and I am used to paying weekly in arrears.

      My last two gigs have been weekly payment, but 30 days in arrears. Seems to be much more common these days, at least with Banks and their on-site agency/staff-management companies. If it's a large agency and client, I don't mind. A smaller agency, I'd insist on weekly payment and 7 day payment terms.
      nomadd liked this post

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        #4
        Monthly invoice + 30 days payment terms here.

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          #5
          Been on...

          Friday Invoice - Tuesday Payment
          End of Month Invoice + 30 days
          Weekly + 7 days
          Monthly + 7 days

          Currently working on cash up front

          It was Invoice Friday then 7 days but over Christmas the agency paid me twice without having invoice for the amounts. I've told then but admin doesn't seem to be the strong point.

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            #6
            just about to move from 30 day payment terms to 60 days.
            Not great in terms of cashflow right now but I think of it as an addition to the warchest.
            When the contract finishes at the end of January I'm still being paid through to 31st March
            Your friendly neighbourhood VirtualMonkey - Not giving financial advice since...well...ever.

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              #7
              Had the same a while back with one of the bigger agencies starting with S. I objected at the time but nothing I could do and wouldn’t pull out of the contract because of it.
              one day at a time

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                #8
                Originally posted by cojak View Post
                I'm on 21 day payment terms. It's not great but at least it's not 30 days.

                So it's not unusual, and iat least it's only for the 1st 3 weeks as once you get into the cycle you are paid weekly (provided you are diligent in getting your timesheets in as soon as you can). I certainly wouldn't accept monthly payment with this arrangement.
                Same here invoice end of month paid around 21st of following month. Actually come to think of it there should be some coming in today, must check in a bit.
                Never has a man been heard to say on his death bed that he wishes he'd spent more time in the office.

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                  #9
                  I can't actually remember what my current payment terms are

                  Something like invoice at the end of the month and then 14 days. The money comes in fairly regularly, though
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                  Comment


                    #10
                    Originally posted by Helpdesk67 View Post
                    Title may be slightly misleading, but anyway, I have recently started a contract with a new agency, and all is good.
                    When I was offered the contract, I was advised that there would be a three week delay in my first payment, this I assumed was to get everything in place, and I was not too happy as I had been out of work for several weeks and money was a little tight. I explained this to the agency, who (reluctantly) agreed to pay me a week in arrears, for three weeks, followed by a 2 week break, to get into a cycle where I am am paid three weeks in arrears. Is this standard practice, I have not come across this in the past, and I am used to paying weekly in arrears.
                    If the agent thinks you're in a weak position, they'll take the piss. Current agent said to me on offer of a role their payment 'terms' were 60 days in arrears! I said, no, no, no, I dont think so.

                    They said 'oh dont worry, we pay a month in arrears for the first month, 6 weeks in arrears for the second then 60 days in arrears for the 3rd month so you dont feel completely out of pocket'!

                    I just laughed and said, no, payment must be weekly. Said I'd refuse the role too.

                    So, in negotiations we agree 14 day payment terms.
                    I couldn't give two fornicators! Yes, really!

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