45 Day Payment Terms - Ridiculous or what?

[SimonMac]

KUATB. His contract has a clause saying he wont get paid until the agency gets paid. Therefore if agency dont get paid and he's opted out, he'll never see that money owed.

Ouch!

Did not know that

[Safe Collections]

We can think of one large household name business that have stated payment terms of 90 days. The unofficial payment terms are around 120+ days.

So it could be worse

[Peter Loew]

Seems like this is more regular than I thought. In almost 7 years of contracting this is the first time I've met 45 day terms.

I am going to try to rock the boat and get this changed, and most of all get that ghastly clause that says they won't pay unless the client co pays, removed.

[northernladuk]

Seems like this is more regular than I thought. In almost 7 years of contracting this is the first time I've met 45 day terms.

I am going to try to rock the boat and get this changed, and most of all get that ghastly clause that says they won't pay unless the client co pays, removed.

Personally I wouldn't. It is only a slight risk and it is one that has been caused by yourself. Rocking the boat will only a) reduce the risk by 15 days max b) make you look like a right pain in the ass cause you agreed to it. Nothing more unprofessional than someone agreeing to something that isn't too unreasonable and then moaning about it after.

And you think they will remove a clause that cover's there ass once the horse has bolted.

Wait until renewal and then kick up a fuss IMO.

[NickNick]

Seems like this is more regular than I thought. In almost 7 years of contracting this is the first time I've met 45 day terms.

I've only ever encountered longer payment terms when going direct. Last direct contract had 60 day terms, but in reality payment was usually less than 7.

[d000hg]

Unless you have <2months in your warchest, who cares? It just means you carry on getting money for longer after you leave which is always nice.

[JoJoGabor]

I am currently on 30 day payment terms, reality is more like 45 days, and I'm not happy, about to inform they I will be at home job searching until the money owed appears in my account.

Most clients when going direct will try to stretch payment terms so next time I will insist on going on 14 days or less. I am not willing to expose myself to over £20k worth of risk

[BolshieBastard]

Ouch!

Did not know that

Sorry, didnt mean to appear heavy handed. Bolshie's a pussy cat really!

[Wanderer]

Unless you have <2months in your warchest, who cares? It just means you carry on getting money for longer after you leave which is always nice.

Yeah sure. Hey, how about you just give me your warchest to look after, I'll take good care of it. You can trust me, I'm an agency. I'll never go bust or try and withhold payment from you due to a dispute.

[yasockie]

Unless you have <2months in your warchest, who cares? It just means you carry on getting money for longer after you leave which is always nice.

And how do you think banks make money? I just negotiated 7 days payment terms, I could potentially finish the contract already and have the most of the money secure. I still worry about handing over the code prior to receiving the payment, I'd be a wreck if I had to code or two months risking that they challenge some tiny bit and sewer our relationship w/o paying. The risk is just too large in my case and I would not accept...