Reply to: Manpower about to go bust?

[Safe Collections]

How many people getting delayed payments from Manpower at the moment ? Concerned they have a cash flow situation which is a red watch situation if true. Several people at my client site complaining about delayed payments last 2 months. Is it a wider trend ?

Large, lumbering organisation in late payment shocker

Seriously though, whilst we can not guarantee Manpower aren't going out of business, it looks unlikely to us based on the information we can call on today.

Delays in payment could be for any number of reasons and do not always indicate financial difficulties (although you are right to be mindful of the risk!) It could be that the company wants to artificially increase its balance sheet before the end of the financial year.

Delay payments to all your contractors for a couple of months and hey presto

They do sound like they are taking the mickey however. As suggested consider raising a claim for late payment costs and interest on every invoice and start the credit control process to collect your money.

It is also worth remembering that any invoice raised after the 16th of March 2013 is covered by the new late payment statute. This allows for the addition of reasonable recovery costs if you have to use a third party to collect.

More info in our ContractorUK article on the recast late payment legislation.

[kingcook]

Seriously, I will host a free party for every contractor on here if Manpower goes bust in the next month.

Noted

[BolshieBastard]

Kinell, 45 day payment terms!?

WTF do people agree to such terms? An honest question. Is it desparation to get a job or what?

One agency who told me I'd got the role said their payment terms were 60 days. And they said it without a hint of laughter down the phone. All they could hear was my laughter at them. Point blank refused their terms. Cut a long story short agreed terms were fortnightly pay.

[jamesbrown]

Seriously, I will host a free party for every contractor on here if Manpower goes bust in the next month.

Quoted, just in case

[Andy Hallett]

Seriously, I will host a free party for every contractor on here if Manpower goes bust in the next month.

[northernladuk]

How many people getting delayed payments from Manpower at the moment ? Concerned they have a cash flow situation which is a red watch situation if true. Several people at my client site complaining about delayed payments last 2 months. Is it a wider trend ?

What type of delays are you looking at... a few days or a few months.

[travellingknob]

More Manpower concerns ?

How many people getting delayed payments from Manpower at the moment ? Concerned they have a cash flow situation which is a red watch situation if true. Several people at my client site complaining about delayed payments last 2 months. Is it a wider trend ?

[northernladuk]

This isn't the lady dealing with your contract was it?

Woman arrested for having sex in the back of a Dubai taxi arrives for court hearing in a hijab | Mail Online

[kingcook]

I'm worried that Manpower is about to go bust and is having serious financial problems.

I hope not... my home is powered by them indirectly

[Wanderer]

They just don't pay on time. I've got a 45 day lead time on payment and invariably it doesn't get met.

Do a search on the forum for "dunning" which will bring up a load of topics here or google site:forums.contractoruk.com dunning

Sounds like the client don't give a tulip which is too bad but really it's not their problem.

They owe you far too much money. Don't pussy about, send the agency an invoice for interest and penalties, see the payontime link that NLUK posted.

Along with the invoice for interest and penalties, tell them that due to their poor payment history (all the late payments and amounts will be in black and white on your invoice) you are moving to weekly invoicing (if you aren't already) and cutting their credit terms back to 14 days.

That will send them ballistic but keep banging on their heads until they get it. Talking to the office boy or girl will get you nowhere, make them escalate it until you talk to someone who can actually get stuff done. There is no reason to allow your business to be shafted by another, far bigger business like this.

[moggy]

I'm pretty sure Manpower aren't about to go under. They are valued at £130million and part of a $3bn group. That's n guarantee I know but its a pretty good indicator.

I have to agree, company check on manpower holdings values them at £315 million. The liabilities to assets doesn't look pretty though, but looking at the history it never has if their info is correct.

[Alan @ BroomeAffinity]

I'm pretty sure Manpower aren't about to go under. They are valued at £130million and part of a $3bn group. That's n guarantee I know but its a pretty good indicator.

[craig1]

45 day payment terms! I don't go over 7 days without a day-rate rise to compensate!

There is utterly no excuse for not paying within 45 days.

[northernladuk]

Have a look at this...

https://payontime.co.uk/

Send them a mail every day and 'Dunning' them till they get their act together..

http://en.wikipedia.org/wiki/Dunning_(process)

Don't forget to charge them interest as well. It's peanuts but will cause them enough of a headache to maybe sit up and listen

[SueEllen]

The trick in these situations is to:
1. Ask the agent through email if they have any payment problems as you are going to have to tell the client the agency has a problem as they haven't paid you.

2. If the payment doesn't appear on the day they state inform the client verbally and by email that the agency is likely insolvent.

3. Wait 2 days and if the agency still haven't paid, phone up the client from home and say that you cannot come in as it's clear you aren't getting paid for the work you have done and the agency must be going into administration. Also do this by email and send a copy to the agent.

You generally only have to do 1 before you get paid either by a cheque or a quick BACS payment.

Finally never again agree to 45 day payment terms for monthly amounts of money. Plus always make sure your contracts states "Calendar Days" not "Working Days".