Getting Paid

[Scoobos]

To anyone who may be finding this in search results - I've used this piece of legislation to great effect chasing an intentional bad debtor:

Late Payment of Commercial Debts (Interest) Act 1998
http://www.legislation.gov.uk/ukpga/1998/20/contents

[Sysman]

I had 18mths out as perm and came back. Both the last contract (agency) and this direct one pay within 6 days of invoice. Although current gig have asked me to move to monthly billing rather than weekly, submit timesheets on the monday before the last friday and get paid the last friday! Works for me, I know they are good for it.

One of the better payment schemes I was on involved faxing your timesheet (unsigned by the boss) 3 weeks into the month and you were paid on the last Friday of the month without fail. You then sent the signed timesheet at the end of the month and the difference was added to next month's pay. The first couple of months was going to be hard, as starting one week into January meant I was only going to see 2 weeks' pay at the end of the month, so I asked for an advance and got it.

[Sands of Time]

Between being offered a role and accepting is the contractor's 'sweet spot'.

I always demand payment in 7 days.

Yes, they wince and twist - I tell them it's a deal breaker, I always get it.

Afterall, what they gonna tell the client - they lost a resource because of payment terms?

I also connect to my new client via Linkedin so if the agent plays silly buggers I can contact directly if required.




Tone

[scooby]

I remember as the noob, i went through an umbrella. Never quite understood the bill for month worked, 30 days for them to invoice agency, 30 days to pay me. 60 days... I learnt as i left them (because i didnt like them!) that this was to increase their cashflow as they went tits up soon after. I lost £2k. Went Ltd at first opportunity, now there is only me responsible for invoicing and agents etc...

I had 18mths out as perm and came back. Both the last contract (agency) and this direct one pay within 6 days of invoice. Although current gig have asked me to move to monthly billing rather than weekly, submit timesheets on the monday before the last friday and get paid the last friday! Works for me, I know they are good for it.

All previous contracts where 30days, what has changed? Have I just been lucky with recent clients?

[norrahe]

WTAS

[Old Greg]

Since 1997 I've only ever billed weekly.

Cashflow is the lifeblood of any organisation.



Tone

Currently on monthly invoicing + 30 days settlement.

Last contract they asked if I minded invoicing monthly in advance with 30 days notice.

[Sands of Time]

Since 1997 I've only ever billed weekly.

Cashflow is the lifeblood of any organisation.



Tone

[AtW]

Wise words man, wise words.

WIS

Also settle your debts with extreme prejudice

[Cliphead]

The No1 and only golden rule.

[Diver]

Wise words man, wise words.

WHS

[DimPrawn]

Wise words man, wise words.

[EternalOptimist]

i am going to invoice this friday for three weeks.
I feel really relaxed and, to be honest, I would not be bothered if I forgot and did it a week later.
I am working direct now.

So, why bother posting all that ?

because the worst times in my fckng life were when agencies sttopped paying, in both cases when they were going teats up, and I stood to lose 10 - 20 k.

so if there are any noobs reading this - bill early bill often