Reply to: Can an Agency insist on Monthly Invoicing. in current situation..?

[vetran]

or splashed it all out on car park season permits

what for dogging?

[BrilloPad]

And he still hasn't tested it by starting a thread in General. There must be free parking in the professional forums.

It depends on the size of the poster's warchest....

[Old Greg]

There's a bit of custom code that allows Darren to start a thread and within 1 page it jumps to general. Weird that, eh?

And he still hasn't tested it by starting a thread in General. There must be free parking in the professional forums.

[WTFH]

Moved to General, eh?

There's a bit of custom code that allows Darren to start a thread and within 1 page it jumps to general. Weird that, eh?

[Zigenare]

In current difficult situation can any agency insist contractors should take monthly invoicing..?

Especially may have cash flow issues & too riskly to leave big amount with agency as many companies are going to administartion now...

Any thoughts..? If they insist on monthly how to convince that need weekly invoiceing..? Thanks.

What are the payment terms in the contract?

Have you done your due diligence on the agency?

Are you really a clueless fuqwit?

[Andy Hallett]

Timesheet frequencies are often dictated by the client. The default in my experience is Weekly in the UK and Monthly in Europe.

If you are being asked to submit a weekly timesheet, submit a weekly invoice - if that deviates you are bankrolling the agency.

[Old Greg]

The house is only worth £500k. But the parking spaces are worth 1.5m pound coins.....

FTFY

[BrilloPad]

It's pretty clear where the change is surely?


Client agency payments weekly? You are having a laugh aren't you. If it's under 60 days they've done well.


We know what's triggered it, he's moved to an agent that only offers monthly billing.

A serious response? And in general?

Who are you and what have to done with NLUK?

[northernladuk]

Depends who initiates change of these terms,
There's a chain: Client-Agent, Agent-Supplier

It's pretty clear where the change is surely?

If Client-Agent payment terms is: weekly, but Agent-Supplier forces to monthly - then something smells really bad, it can go tits up easily in current environment.

Client agency payments weekly? You are having a laugh aren't you. If it's under 60 days they've done well.

and so on, therefore try to sniff-out what triggers it on both segments (if it's justified or simply a con to accumulate higher debt before ditching it).. otherwise it might end with sad news to your pockets...

We know what's triggered it, he's moved to an agent that only offers monthly billing.

[BrilloPad]

It might have cost you 2 million (I notice you didn't mention the currency), but have you checked to see if it's still worth over £1million in today's market?

The house is only worth £500k. But the parking spaces are worth £1.5m.....

[Old Greg]

Moved to General, eh?

[Yuri F]

Depends who initiates change of these terms,
There's a chain: Client-Agent, Agent-Supplier

If Client-Agent payment terms is: weekly, but Agent-Supplier forces to monthly - then something smells really bad, it can go tits up easily in current environment.

If Client-Agent terms change from weekly to monthly then Agent shouldn't take risks (especially assuming Ltd/ Not in IR35 Scope contract format, although depends on premium they charge off your rate..) and it is passed to Supplier/Ltd, but it obviously rises question on Client' motivation and their liquidity situation, it does makes sense under some conditions to finance (current assets) activity via accounts payable if borrowing rates on open-market sky-rocket (borrowing from bank these days can score 30% pa rate, despite whatever gov tries to declare all over the news to calm down situation, reality is a b$^%h and gov job is to give hope not necessarily to keep the promise..) as cheap substitute, bot for other scenarios it's much worse sign of system failure - not just short-term situation.

and so on, therefore try to sniff-out what triggers it on both segments (if it's justified or simply a con to accumulate higher debt before ditching it).. otherwise it might end with sad news to your pockets...

[Old Greg]

In current difficult situation can any agency insist contractors should take monthly invoicing..?

Especially may have cash flow issues & too riskly to leave big amount with agency as many companies are going to administartion now...

Any thoughts..? If they insist on monthly how to convince that need weekly invoiceing..? Thanks.

What are the payment terms? It can be difficult to shift an agency that works on monthly invoicing to weekly invoicing,.

Monthly invoicing + 7 days payment terms, is better than Monthly invoicing + 30 days payment terms. And you should be playing hardball now with access to the staff car park.

[rogerfederer]

They can insist on it, in the same way you can walk away from your contract.

There's very few IT agencies I know of that choose to do weekly invoicing as it's more expensive for them.
It's times like these where contractors who have been contracting for years are glad that they built up a archest and haven't just squandered every penny they earned on buying bigger houses, bigger cars, etc.

In all my years I've never had a monthly payment cycle. It's always been weekly. If monthly was ever approached in a conversation I just mentioned weekly was preferred to avoid a breakdown in trust in the future.

This forum seen a period of time when many people were losing 2 to 3 months business payments as a result of being palmed off by agencies. Not worth the risk. In my case I've never lost anything but wouldn't accept more than one missing payment and so maximum of 1.5 weeks business income. I'm happier with this decreased risk.

[AnthonyQuinn]

In mycase this is not a new contract, existing long term contract with Umbrella is moving back to Ltd company since IR35 implementation delay. So walking away is not an option for either parties I think.

Then you should be worried more about Sunak than monthly invoices