Blooming payment terms!

[likessleep]

Is it the norm to be 60 days now?

Thanks

Hello, I would say norm is 30 days but customers are pushing it to 30 days. It really depends on what you agree when you set up the deal. Cash flow is difficult for everyone. From my experience - do not leave yourself and make suggestions if you are a start up. The company I work for has a wide range of payment terms with their supply base, some are on proforma, some are cash on delivery, some are 30 days and some are 60 days and we try to push suppliers when we can. Good and regular communication with their credit control and the buyer/purchaser is the key in my opinion.

My terms are 30 days. Small clients usually pay very quickly, bigger ones tend to leave it until 29 days 23 hours and 59 mins...!

Mine are 30 days, I wish that bore more relation to reality though.

DH has still some invoices outstanding from October. We know they will pay they are big companies - but when?

I've just been paid for a job I did last July. For a national newspaper.

Wasn't the Indie was it Frogs? We find they are the worst.

still have not got paud for the job done last August!

My worst client for payment was an international well know investment manager!!!! They lost invoices, then queried them, then passed them on to other divisions in financial control, queried them again and finally, FOUR MONTHS PAST DUE, they paid the right amount but in the wrong currency!!!!! GAH!!!!!

LadyG -- no, not the Indie, it was a red top. They only finally paid because I had made sure I had every stage of the quote and instruction process in writing, nicely topped up with a CCJ, so they had no way out, really.

I should have known better than to take it on, in the first place -- as my grandmother used to say: If you lie down with the dog, you get up with fleas.

thanks for posting, sorry i hadn't checked the thread for a while

have spent the last couple of weeks in negotiation with them and their legal team won't budge, so have gone with the 60 days. client has told me i can raise as soon a commissioned, so that's good.

guess tis the nature of the beast.

thanks for posting.