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Agency changing from weekly to monthly payments - HELP!
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Agency changing from weekly to monthly payments - HELP!
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Originally posted by TheFaQQer View Post<placeholder for now>
Don't the know context but it made me laugh.."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank... -
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I've heard tell that even if an Agency try to impose monthly on you, that you can stil insist on weekly. Is this true? nalE currently won't budge on this even though I KNOW they have a weekly payroll!!Permietractor (probably)Comment
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Originally posted by Mephisto View PostI've heard tell that even if an Agency try to impose monthly on you, that you can stil insist on weekly. Is this true? nalE currently won't budge on this even though I KNOW they have a weekly payroll!!Comment
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Originally posted by Mephisto View PostI've heard tell that even if an Agency try to impose monthly on you, that you can stil insist on weekly. Is this true? nalE currently won't budge on this even though I KNOW they have a weekly payroll!!
It's a contract negotiation, so negotiate.Comment
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Originally posted by Mephisto View PostI've heard tell that even if an Agency try to impose monthly on you, that you can stil insist on weekly. Is this true? nalE currently won't budge on this even though I KNOW they have a weekly payroll!!
Clients want to pay on the longest terms. Suppliers want to get paid on the shortest terms. The key to a successful business is managing this.Comment
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but you could walk away if the payment terms are not what you want.
Will this strategy not back fire on some people, they say fair enough and let you walk? Must be good opportunity for agents to strip some dead wood and fill with cheaper/better people? Risky strategy or does it neve fail?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostThe question I am interested in is how many people are just voicing their annoyance to change and would be easier for them just to put up with it and who really cannot accept these terms and are willing to go down this route?
Will this strategy not back fire on some people, they say fair enough and let you walk? Must be good opportunity for agents to strip some dead wood and fill with cheaper/better people? Risky strategy or does it neve fail?
(a) - if the agency is trying to change payment terms mid-contract (and is forcing it through), then WORRY. The agency can't pay it's bills. I would refuse, flag it to someone at the client, and start looking. I would not be extending my exposure any further.
If the agency can manage the client well enough to run the risk of losing contractors and replacing them easily, then they might well pursue this strategy. But it's a risky one for the agency to take.
(b) - depends on their credit rating. I'm not that fussed, to be honest, as long as I think that I will get paid.Comment
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I know someone in this situation ..
Agency has tried to switch to monthly payment without notice.
A face to face meeting with the "CEO" of the agency has led to a compromise agreement .. whereby a transition period was agreed, during which invoices would still be raised and paid bi-weekly. This was confirmed later by email.
Agency has not met the first deadline during this transition period - should the LTD companies involved insist on setting a credit limit to restrict their exposure?
Any precedents/war stories? The agency and management team behind it have been through insolvency/liquidation before. Ideally the LTD companies would want to provide services through a different member of the end client PSL, but this may be difficult to achieve due to the restrictions in the current contract.Comment
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