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Would you take a short gig with long payment terms during this period?

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    Would you take a short gig with long payment terms during this period?

    So, question is quite simple. Have had 2 chats during previous week.
    Both 2 month gigs with small agencies. One of them mentioned weekly invoices(albeit the interview appointment failed to arrive so far).
    Both assumed 30days payment terms so payment might arrive after you've left clients site.

    Would people take them? Considering the risk of non-payment, racking up additional expenses?
    21
    Yes, it should be fine, conditioned by terms of contract.
    47.62%
    10
    No, high probability of non-payment.
    19.05%
    4
    Yes, but with payment in advance / earlier invoice.
    19.05%
    4
    Yes, if Andy W's mum puts out "collateral" for it.
    14.29%
    3

    #2
    Credit check them - then decide.
    Down with racism. Long live miscegenation!

    Comment


      #3
      I once did a job for a repeat client (think it was my third time back) and they asked if I could submit 1 invoice to cover it all at the end. some kind of budget thing that they had going on. it was an 8 month job. i knew they were good for it and so I agreed. iirc invoice at the end was 132k. not sure I'd do that now.

      Comment


        #4
        Originally posted by NotAllThere View Post
        Credit check them - then decide.
        Not sure if it helps. They might be credit worthy now then all of a sudden not be.
        Temptation could be high for a sleezy pimp & administrator to do a run.
        I would still insist on payment in advance on e first timesheet is approved. If they can’t work something out then there might not be “good will” there.
        Last edited by GigiBronz; 6 September 2020, 16:04.

        Comment


          #5
          I would see weekly invoicing, 30 day payment terms and IPSE+ a reasonable risk.

          Comment


            #6
            Never quite sure a credit check tells you much.

            I'd want shorter payment terms but whether I'd be prepared to ditch the job if they said no would depend on things like how long I'd been out of work and the state of my war chest.

            Maybe see if you can include a penalty clause for late payment or an incentive (discount) for early payment? The former may be difficult to recover if they go pop but the former may be enough of a carrot to encourage prompt payment.

            Comment


              #7
              Originally posted by GigiBronz View Post
              They might be credit worthy now then all of a sudden not be.
              For peace of mind you could look at invoice insurance, so if things go really pear shaped you'll get your money (or as Old Greg mentioned IPSE+ depending on the invoice amounts) .

              Comment


                #8
                Originally posted by Old Greg View Post
                I would see weekly invoicing, 30 day payment terms and IPSE+ a reasonable risk.
                No sure why you ref ipse here?

                Completely useless these days


                Sent from my iPhone using Contractor UK Forum

                Comment


                  #9
                  Is invoice factoring worth considering?

                  Comment


                    #10
                    Originally posted by GhostofTarbera View Post
                    No sure why you ref ipse here?

                    Completely useless these days


                    Sent from my iPhone using Contractor UK Forum
                    Agency bankruptcy protection?
                    merely at clientco for the entertainment

                    Comment

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