Reply to: Late invoice payments...

[escapeUK]

Accounts departments pay on a "who shouts loudest basis".

Chase your debt. Ring up and ask when you can expect payment.

[PAH]

Hi
You are legally entitled to charge interest at a set percentage above the BOE base rate. It may be an idea to put a notation on your invoices stating that any late overdue payment will be subject to interest and invoiced accordingly.

Yeah, see the payontime website for full details. Also note that you don't have to have informed them beforehand that you are charging them interest for overdue invoices.

As long as the agency isn't likely to go bust anytime soon you could sit back earning 8% + BOE base rate on whatever's owed you.

Not sure if you can submit an invoice for the late payment interest, then when they don't pay that on time, invoice them charging interest on the interest, ad infinitum, but if you could it would be a nice little earner.

[Sally BFCA]

New contract, new agent. They told me that they pay 30 days after invoice.
First invoice payment 1 week late and counting...
I invoice weekly on this contract and the 2nd one was also due last week, still unpaid.

Do some agents think it is ok to just relax and take their time? I always print the due date on my invoices as a helpful reminder.

My last agent was very prompt and was no later than 1 day, and sometimes paid a day early.

Hi
You are legally entitled to charge interest at a set percentage above the BOE base rate. It may be an idea to put a notation on your invoices stating that any late overdue payment will be subject to interest and invoiced accordingly.

[d000hg]

So have I. I think that it's the line "with an agent, you need to tell them payment is weekly on the dot or you split." that makes it amusing.

Poll on its way...

[Wanderer]

I dont want to damage their reputation if it is an honest mistake.

What is this thing called "reputation" you perceive your agent to have?

[ratewhore]

Why. I've had a contract like that before. Invoice on Friday payment on Wednesday. Sorted.

I once had an agent who took me out for regular curries. Doesn't mean I expect all my agents over the years to do that. And I certainly wouldn't split if they refused.

Mate of mine biffed his (female) agent once. I rest my case...

[The Wikir Man]

Why. I've had a contract like that before. Invoice on Friday payment on Wednesday. Sorted.

So have I. I think that it's the line "with an agent, you need to tell them payment is weekly on the dot or you split." that makes it amusing.

Of course, now that we are out of a recession and into boom times, it's the time to be laying down the law to the agencies. It's not like they've got plenty of other candidates to choose from, is it?

[northernladuk]

Why. I've had a contract like that before. Invoice on Friday payment on Wednesday. Sorted.


I'm waiting for someone to come back with "your a business blah blah blah". Well I am and my business has the credit terms of a widower landlord.

I think what he finds funny is the fact the OP of that comment thinks that this is normal and made no mention of agreements and contracts. It's the assumption that raised a LOL.

I am sure people do have those T&C's but is by no means standard.

[Sockpuppet]

Quite simply one of the funniest things I've read here for ages. Shouldn't this be in light relief?

Why. I've had a contract like that before. Invoice on Friday payment on Wednesday. Sorted.


I'm waiting for someone to come back with "your a business blah blah blah". Well I am and my business has the credit terms of a widower landlord.

[northernladuk]

I'll hold off naming the agent as its only 1 week and I dont want to damage their reputation if it is an honest mistake.

The pimp I deal with is actually ill, but they have a separate accounts department who took the original invoices. They've said that my payment has been processed by BACS friday last week (didn't explain why it was late), so I'll give it a few days more....

That is very fair of you. I don't see it as an issue to ask 'Has anyone had an issue with xxxxx not paying in the past?'

It is a simple question based on a factual situation. I see no reputation damage beyond them being soley responsible for having their name mentioned.

Fair play to you if it does work out well though. Tis a good thing you do.

[CheeseSlice]

Second off name them and see if others on this board are having the same problem to give you an indication of the tulip you are in.

Thirdly speak to them?? What excuse have they given? Does it seem feasible? Is someone on holiday or serious IT problem that could justify this?

Fourthly (?!?) do it quick!!

I'll hold off naming the agent as its only 1 week and I dont want to damage their reputation if it is an honest mistake.

The pimp I deal with is actually ill, but they have a separate accounts department who took the original invoices. They've said that my payment has been processed by BACS friday last week (didn't explain why it was late), so I'll give it a few days more....

[ratewhore]

If you invoice friday the agent should pay into your account via bacs by the following tuesday or wednesday at the latest
If you were direct to the client then they could stipulate 30 days net, but with an agent, you need to tell them payment is weekly on the dot or you split.

Quite simply one of the funniest things I've read here for ages. Shouldn't this be in light relief?

[VectraMan]

I had an agent "not receive" my first two timesheets once. But then that was paid weekly a few days after invoice, so it wasn't too bad (and they were reliable after that).

But that was pre-recession times. I'd be very nervous in your situation, and you're now six weeks in and risking not getting paid for any of it. You need to consider withdrawing your services unless you can get a guarantee from somebody that this is a temporary blip. If you have a good relationship with the client, get them involved. Agents will bend over backwards to keep the client happy.

[cojak]

WHS.

It's worth a quick search and new thread with the offending agency's name in the title...

[northernladuk]

First off search the forum of the agents name to see if there have been problems in the past.

Second off name them and see if others on this board are having the same problem to give you an indication of the tulip you are in.

Thirdly speak to them?? What excuse have they given? Does it seem feasible? Is someone on holiday or serious IT problem that could justify this?

Fourthly (?!?) do it quick!!