Agency Payment Terms

[suityou01]

I have read a lot of posts about agency payment terms, but I think there is some confusion here, i.e. 28 days 30 days whatever.

I have a contract where the agency say they pay weekly but first pay will be 28 days after invoice, then weekly after this.

What they actually mean is that in 28 days I will get paid for my first week, then 7 days later my second week, 7 days after that my third week etc. etc. but this means that they have a constant hold of 4 weeks of salary owed to me.

To me this is not weekly and is unusual, i'ts not weekly, it's not even monthly, it's worse, as even with monthly your maximum exposure is 1 week, then 2 then 3 then 4, then you get paid for the month, so never a constant hold of 4 weeks if you know what I mean.

Anyone else on this, is this normal (for some agencies) - I'm not happy with it.

invoices
my company

[Pogle]

Sounds normal to me, although on my last contract I was paid 30 days after the invoice was received - BUT I was expected to invoice monthly, so in reality I was paid after 2 months - I tried to change it, but the agency wouldn't budge.

I was just glad of a contract

[NotAllThere]

sounds normal to me, you have your invoice paid weekly 28 days in arrears.. same as every contract i've ever worked...

You should negotiate better. I'm currently on 21 days, and that's the worst (apart from direct contracts) that I've had in 15 years. Mostly it's been invoice at the end of the month (or occasionally, week), payment within a few days, by BACS.

[chef]

sounds normal to me, you have your invoice paid weekly 28 days in arrears.. same as every contract i've ever worked (apart from the one that didn't pay me at all and went bust)

oh and I'd guess your calculations are not correct..

"What they actually mean is that in 28 days I will get paid for my first week, then 7 days later my second week, 7 days after that my third week etc. etc. but this means that they have a constant hold of 4 weeks of salary owed to me."

in actual fact it's 28 days AFTER the end of the first week, so it's actually more like 35 days from the monday, 34 for the tuesday.. and 30 days for the Friday.

In reality this will then get slightly delayed as I'd guess payments are always made on a Weds so you'd get paid hte Friday afterwards which then adds an extra few days onto your payment.. "dont worry though, it will be paid"

HTH

[TykeMerc]

Sounds like weekly to me, with a month in hand.

(P.S. it's not salary)

It's also quite common. Thinking about it in 18 years I've rarely worked less than 2 weeks in hand and 28 days is typical.

[blacjac]

Sounds like weekly to me, with a month in hand.

(P.S. it's not salary)

[MeAndMyself]

I have read a lot of posts about agency payment terms, but I think there is some confusion here, i.e. 28 days 30 days whatever.

I have a contract where the agency say they pay weekly but first pay will be 28 days after invoice, then weekly after this.

What they actually mean is that in 28 days I will get paid for my first week, then 7 days later my second week, 7 days after that my third week etc. etc. but this means that they have a constant hold of 4 weeks of salary owed to me.

To me this is not weekly and is unusual, i'ts not weekly, it's not even monthly, it's worse, as even with monthly your maximum exposure is 1 week, then 2 then 3 then 4, then you get paid for the month, so never a constant hold of 4 weeks if you know what I mean.

Anyone else on this, is this normal (for some agencies) - I'm not happy with it.