I have recently started working for a few companies,Should there be a deadline for payment by law? ie 14 day's? As I am waiting near on two month's at a time to get my money paid into my bank!!!! The money is of a good rate but by the time you knock off the 20% and fuel then have to wait so long,it sometime's doesn't feel worth it I feel like giving them two rate's,one rate for payment's within 14 day's and the second,an over priced rate to compensate for the month's wait :smile: Hippyfitter
if your subbing then your really at their mercy tbh :cry: I always put on my invoices that payment has to be recieved no later than 10days after satisfactory completion.. Works most of the time
I thought there was some sort of law in place where payment's should be made within 14 day's?? Could be wrong tho
Yeah you may be right there Ive asked around a few folks that should be in the know and some said its discretionary Some even had 5 days balance paid! Then theres the other way Pay up front please sir lol :lol:
If you're waiting two months within the domestic market then that's out of order as they will be paid almost immediately. If it's commercial it's still far too slow but at least there is some reason.
I quoted for a large nursing home not too long ago along with two other quoters and i made sure that my quote was to be competitive.I asked for a portion of the money upfront to pay for goods and then smaller interim payments along the way.At the end of the day especially with large accounts i find it easier than waiting four or five weeks for a return.
I have on all my invoices that they are due on completion of the work and that goods remain my property until payment has been made in full. Most private customers pay when the job is done, I take a payment from some of them to cover the costs of materials (mostly on my upholstery jobs). Commercial jobs (ie subbing for interior designers, housing associations, other businesses in general) take longer to pay - usually at the end of the month following. In answer to the question you can make every effort to let the customers know when you want to be paid but if they choose to ignore that you are kinda at their mercy - unless of course you play hardball and demand upfront payments or refuse to work until payment has been made - not good for business though in my opinion.
To the best of my knowledge that doesn't hold water legally. Once you deliver goods to someone ownership changes and a debt is created. Doesn't do any harm having them on your invoices though.
[/quote] To the best of my knowledge that doesn't hold water legally. Once you deliver goods to someone ownership changes and a debt is created. Doesn't do any harm having them on your invoices though.[/quote] To be fair tho, ive seen that on a lot of invoices, more so on flooring companies ones. Ive never had to go back and 'reclaim' what wasnt paid for etc etc But i would if i had to lol :twisted:
I would of liked to once but you cant just barge in some ones house and start ripping up thier floor, you would probly get in more trouble
That could well be the case Sandy, I just put it on to encourage prompt payment. Never had to 'reclaim' goods so far in 13 years anyhow - long may that continue !!
Sorry SandyFloor, but there is quite a legal difference between "ownership" and possession of goods. A debt is already created when the client accepts your quotation, ownership transfers only if the whole debt is paid. So have that in writing in your Terms & Conditions of Trading, not just on your invoices (that might be considered too late when worst come to worst: client can state that he went into the agreement without realising, seeing, reading the full terms and conditions),
Cheers for that clarification woody Am gonna start a new thread about that and whats best written on the quote/invoices to best protect ourselves
