Simple question re agency late payment

[BolshieBastard]

Contract states invoice will be paid "within N days of client authorising timesheets" which they have done today.

Agent is proposing to pay in N days plus next working day as the Nth day is a Sunday.

I've pointed out to the agent what the contract states and not N days but if this falls on weekend or bank holiday, payment will be made the next available working day.

They said they'll look into it (too right they will!).

So, had a look at Pay on Time website and the interest calculation is clear but, Im not clear about 'compensation.'

Can compo be claimed as well as interest or is it claim interest or compo (whichever is largest) but not both!?

[geoff from contracta IOM]

Contract states invoice will be paid "within N days of client authorising timesheets" which they have done today.

Agent is proposing to pay in N days plus next working day as the Nth day is a Sunday.

I've pointed out to the agent what the contract states and not N days but if this falls on weekend or bank holiday, payment will be made the next available working day.

They said they'll look into it (too right they will!).

So, had a look at Pay on Time website and the interest calculation is clear but, Im not clear about 'compensation.'

Can compo be claimed as well as interest or is it claim interest or compo (whichever is largest) but not both!?

Just to be clear are we talking about one day late here ?

[northernladuk]

Go brolly man... let someone else deal with it all for you!!! Brollies all the way!!

[BolshieBastard]

Just to be clear are we talking about one day late here ?

No. Payment should be made on the Friday according to the T%C's.

But, it's end of contract and I'd normally expect payment to be made within 4 days of finishing as per all other contracts I've had.

With faster payments they should really be paying within hours of the last day.

Besides, Im feeling bolshie and very anti IR35

[BolshieBastard]

Go brolly man... let someone else deal with it all for you!!! Brollies all the way!!

LOL!

[LisaContractorUmbrella]

Go brolly man... let someone else deal with it all for you!!! Brollies all the way!!

Right on man

[geoff from contracta IOM]

No. Payment should be made on the Friday according to the T%C's.

But, it's end of contract and I'd normally expect payment to be made within 4 days of finishing as per all other contracts I've had.

With faster payments they should really be paying within hours of the last day.

Besides, Im feeling bolshie and very anti IR35

A permie would expect to be paid on an exact day, in business sometimes it just doesn't work that way, I say sue them and phone the police too, perhaps your MP could help ?

[bless 'em all]

My agents are paying my invoice for May this Friday, rather than postponing until after the long-weekend, but to be honest I had expected to wait the extra day or so for payment.

I certainly wouldn't be wetting myself about it.

[Mr.Whippy]

A day?... really?

Shouldn't this be moved to light relief as it's surely not a serious question?.....

A day...

[BolshieBastard]

A permie would expect to be paid on an exact day, in business sometimes it just doesn't work that way, I say sue them and phone the police too, perhaps your MP could help ?

Seriously!? So if I send timesheets in late, I can still expect payment on the 'usual' date with this agency!?

OK, here's one, your credit card bill is due for payment on the Sunday. Do you a, pay the day after because its the next available weekday or b, pay it early on the Friday as it is the last weekday in the period?

Normally, I wouldnt be arsed about the paying 'late' but what's sauce for the goose and all that!