Hello & A question.

[b0redom]

Two months credit? Hope it's a big agency which isn't likely to go bump. I had an agency try that on.

"Well with the current financial climate, we need to go from 4 weeks to 8 weeks."
"So you're in financial hardship and want me to extend you more credit?"
"Ummm......"

Suffice to say they backed off. I would really push for 30 day payment terms at the most.

[Wanderer]

I have been offered a contract with an organisation through an agency which is great, however, the agency has said that the start date is 6/6/11 but I will not get paid until August and then every month thereafter and so I was wondering if this is usual in contracting that you get your first pay 2 months after commencing work.

Hello and welcome.

Do not accept this invoice monthly on 30 day terms nonsense, the agency are trying it on with the new boy. Think like a business. Tell them "MyLTD is not willing to extend your company 2 months worth of credit. I propose that we amend the payment terms to 2 weeks from the date of the invoice". (If you don't ask then you don't get)

If you have to settle on 30 days payment terms then be absolutely certain (eg, written into the contract or schedule) that you can invoice weekly. That way the most credit you are extending them is 5 weeks.

[Scrag Meister]

Hello everyone ,

I have been offered a contract with an organisation through an agency which is great, however, the agency has said that the start date is 6/6/11 but I will not get paid until August and then every month thereafter and so I was wondering if this is usual in contracting that you get your first pay 2 months after commencing work.

I look forward to your responses!

In my current contract it was 7 weeks from contract start before my first invoice was paid, started early March, Invoice end of March, Paid 3 quarters into April. From now on it'll equate to monthly between invoice reciepts, but there was an annoying lag at the beginning.

Used to be paid weekly which was always nice to see a steady flow.

[AKP]

Thank you

Thank you Hex, I appreciate your response!

[Hex]

Hello everyone ,

I have been offered a contract with an organisation through an agency which is great, however, the agency has said that the start date is 6/6/11 but I will not get paid until August and then every month thereafter and so I was wondering if this is usual in contracting that you get your first pay 2 months after commencing work.

I look forward to your responses!

The payment terms you have are negotiable with the agency. If it was 30 day payment terms (which is fairly usual) then with a start date of 6/6/11 I would expect you to raise an invoice on 1/7/11 and get paid by 31/7/11. Maybe they are thinking you will invoice on 7/7/11 (a month after starting) and be paid by 6/8/11.

Find out the exact payment terms from them.

[AKP]

Hello everyone ,

I have been offered a contract with an organisation through an agency which is great, however, the agency has said that the start date is 6/6/11 but I will not get paid until August and then every month thereafter and so I was wondering if this is usual in contracting that you get your first pay 2 months after commencing work.

I look forward to your responses!