Agency payment terms degrading me from 14 to 28 days

[richy]

this agency I've been speaking to only offer 28 day payment terms. I'm used to getting paid within 14 days from existing clients. What are other peoples experiences of payment terms? If 28 is the norm in the contracting world I will have to lump it.. but if this agency is on their own maybe i can get the me usual 14 day period.

28 days is a long time too.. and a lot of money lost of the agency don't pay up. I'd have upfront payment on account if I could, so this is going a step in the wrong direction!

ideas/tips appreciated!

[oracleslave]

I think 28 days is fair and fairly standard in my experience, in fact slightly more generous than the usual 30 days.

[TheFaQQer]

It seems to be the norm, really. It depends a bit on when you are invoicing. For example, 30 day terms, but invoicing weekly if obviously much better than invoicing monthly and then 30 day terms.

Most seem to be invoice monthly, then pay within a week or so. You can find some that will invoice weekly and pay the following week, but they are by far the rarest.

The key thing to find out is the combination of payment terms and invoicing frequency.

HTH

[Gonzo]

I invoice monthly and payment is (usually) 28 days after. It's seat of the pants time every month since the maximum exposure to them that the credit reference company recommended was half my monthly invoice.

Oh, so in answer to your question I don't think it is that unusual really. Especially when you consider that the agency will probably invoice the client monthly and will often have to wait more than a month before they are paid.

[NotAllThere]

Last time I contracted through an agency (two years ago) it was 2-3 days from receipt of invoice. That's one of the major benefits of using an agency - factoring the payments. When did this all change?

[rootsnall]

Last time I contracted through an agency (two years ago) it was 2-3 days from receipt of invoice. That's one of the major benefits of using an agency - factoring the payments. When did this all change?

Seems to be in the last year it has crept in via a few of the bigger agencies. It has always been 2 or 3 days with all my previous contracts via agents. I'm going to try hard in future job hunts to vet out any 28 day payers. Perhaps we can come up with a list here ?

[SallyAnne]

The only quick paying agent I've ever had has been Reed. You invoice weekly on a friday, and get paid the following Friday.

All other agencies over the last 5 years have made me invoice monthly, and then wait between 2 and 4 weeks for the money.

This isn't a problem whe nyou have loads of cash in the bank, but if you're a bit skint, and you have to pay for all your expenses upfront it can be a bit of a nightmare.

[lukemg]

For one reason or another I haven't received a penny from this contract yet - I started on 18th June !!!!!!!!!
Love to blame agency etc but it has been partly down to me, new company, bank account type stuff. Starting to feel the cold a bit by now !

[SallyAnne]

For one reason or another I haven't received a penny from this contract yet - I started on 18th June !!!!!!!!!
Love to blame agency etc but it has been partly down to me, new company, bank account type stuff. Starting to feel the cold a bit by now !

Jesus Luke!!!!!

My very first gig, I waited 3 months like - I had to get a loan to tide me over!

[TheFaQQer]

Square One pay quickly - invoice weekly, paid following week.

Ntrinsic pay quite quickly - invoice monthly, paid week after.

Even Xansa (shudder) pay reasonablly - invoice weekly, paid on 30 day terms, so you've only got 4 weeks exposure.