Morning All,
Looking for a bit of advice, Ive been with my current client since June 2017, Im direct as I know one of the PMs through previous employment and they brought me in to do some work for them. I am the only contractor on the project.
They have always been late paying invoices I bill monthly and dont generally expect to be paid for a few months - this has never been an issue as they do eventually pay - The problem here being the company structure means that the sign off for anything takes ages.
The company itself is a joint venture between two large service companies, one of which has just gone bust.
As of now I have the november invoice outstanding (But billed and signed off so its just pending payment now) The december bill has not been signed off and the january bill has not been raised yet. In total by the end of the month (assuming I keep working) they will be owe me in the region of £20k.
So, Im getting ready to call them and find out whats going to happen - Thought I'd ask for some thoughts from you guys now, Obviously the money that they owe is either going to be paid or not, Im more interested in what you think about going forward, my partner suggested that we should ask for at least one month up front before continuing or at least have it put in escrow to protect us should the worst happen...
Its not actually my client that is bust, its one of their parent companies.. so maybe it will be ok?
Looking for a bit of advice, Ive been with my current client since June 2017, Im direct as I know one of the PMs through previous employment and they brought me in to do some work for them. I am the only contractor on the project.
They have always been late paying invoices I bill monthly and dont generally expect to be paid for a few months - this has never been an issue as they do eventually pay - The problem here being the company structure means that the sign off for anything takes ages.
The company itself is a joint venture between two large service companies, one of which has just gone bust.
As of now I have the november invoice outstanding (But billed and signed off so its just pending payment now) The december bill has not been signed off and the january bill has not been raised yet. In total by the end of the month (assuming I keep working) they will be owe me in the region of £20k.
So, Im getting ready to call them and find out whats going to happen - Thought I'd ask for some thoughts from you guys now, Obviously the money that they owe is either going to be paid or not, Im more interested in what you think about going forward, my partner suggested that we should ask for at least one month up front before continuing or at least have it put in escrow to protect us should the worst happen...
Its not actually my client that is bust, its one of their parent companies.. so maybe it will be ok?
