Can an Agency insist on Monthly Invoicing. in current situation..?

[Darren_Test]

In current difficult situation can any agency insist contractors should take monthly invoicing..?

Especially may have cash flow issues & too riskly to leave big amount with agency as many companies are going to administartion now...

Any thoughts..? If they insist on monthly how to convince that need weekly invoiceing..? Thanks.

[ladymuck]

Yes, of course they can. Just as they could have insisted on it before the world went down the toilet.

You have to make a business decision as to whether you're willing to take the risk or walk away.

If you want weekly payments, ask for it, but be prepared for a no. You won't force them to change.

[WTFH]

They can insist on it, in the same way you can walk away from your contract.

There's very few IT agencies I know of that choose to do weekly invoicing as it's more expensive for them.
It's times like these where contractors who have been contracting for years are glad that they built up a archest and haven't just squandered every penny they earned on buying bigger houses, bigger cars, etc.

[BR14]

or splashed it all out on car park season permits

[Darren_Test]

In mycase this is not a new contract, existing long term contract with Umbrella is moving back to Ltd company since IR35 implementation delay. So walking away is not an option for either parties I think.

[CheeseSlice]

Does your contract state the invoice frequency and payment timescales?

There are some old threads on this forum where contractors have discussed how they credit check agencies, also setting up alerts when they're getting into financial trouble (taking out loans, mortgages, etc). Can't remember how it works, but may be worth looking into that if you're concerned.

[Darren_Test]

Does your contract state the invoice frequency and payment timescales?

There are some old threads on this forum where contractors have discussed how they credit check agencies, also setting up alerts when they're getting into financial trouble (taking out loans, mortgages, etc). Can't remember how it works, but may be worth looking into that if you're concerned.

With Umbrella it was weekly invoiceing, but remaining part of Umbrella contract is moved to new contract with Ltd company (due to IR35 implementation delay) & agency insisting it should go as Monthly invoiceing now

[northernladuk]

You will have cash flow issues moving from weekly to monthly invoicing?. Jesus.. you know the world is turning to rat tulip out there don't you? What on earth are you going to do if your contract folds?

I used to hear stories of long term contractors without a penny behind them and didn't believe it until I saw a grown man crying when our 3 year+ contracts got terminated early one time. He had enough to last him the month out and that was it.

How on earth are you in that position with what's going on? You must be knee deep in pound coins by now surely?

[Darren_Test]

Ok..Thanks.

May be because all I saved over the years I invested in my 2 million Home. Now struggling to pay Mortgauge..?

[WTFH]

Ok..Thanks.

May be because all I saved over the years I invested in my 2 million Home. Now struggling to pay Mortgauge..?

It might have cost you 2 million (I notice you didn't mention the currency), but have you checked to see if it's still worth over £1million in today's market?