Waiting To Get Paid

[cumbriahandyman]

My household customers either pay me in cash or by cheque when the job is finished.

When I work for companies I get paid by cheque or ACT at the end of the month.

Both suit me...

But was listening to a haulier spokesman earlier who was complaining that his members sometimes had to wait between 60 and 90 days to get paid.

 

[seco services]

Alot are like that my brother owns a plant/tipper hire business and they pay 60/90 days but then alot of his suppliers are 60/90 day credit.

works bothways.

 

[D_Hailsham]

There is legislation covering late payment. Unless the contract specifies differently, a payment is late if not made within 30 days. After that, you can charge interest.

See Users Guide to late payment legislation.

 

[Terry7556]

those waiting times of 60/90 days are average with construction firms, in fact with some of them its longer and they seem to be the ones you have to remind to get your retention money back.
in the 80s/90s we did some work for GEC at their stafford plant and they did,nt pay before 90 days. the staff seemed to act like you were at fault for asking.
its no better at the moment, i had a drink with a friend who works for GEC on industrial work like power station overhauls in Ireland.its scaffolding work so its supply and fix catagory. he told me that if you ask for an earlier payment they will pay but take a discount w/o asking

 

[IJWS15]

There is legislation covering late payment. Unless the contract specifies differently, a payment is late if not made within 30 days. After that, you can charge interest.

See Users Guide to late payment legislation.

Unless the contract states otherwise the payment is due IMMEDIATELY.

Late payment legislation comes in if the payment is not made when the contract says it should be or if the contract terms are "unreasonable" - nw there is a whole new can of worms.

 

[joinerjohn]

When I worked for the local council, they paid contractors at the end of the month. Bills for payment had to be in by a certain date each month. Yep typical excuses were " We didn't receive it until after the cut off date." "It arrived , too late to be processed this month." "We have not received your bill yet.".
Not one statement was true. I was working in their payments dept one week, just as the cut of date was approaching. At least a day before the cut off date, people were told not to process any more payments for this month and if anyone asked, their bills hadn't been received, or must have been delayed in the post etc.
Councils are the worst for late payments of bills, yet you try paying your council tax a few days late.

 

[spc]

I always state my payment terms on my written quotation. I will not start work until those have been agreed apon and I have a purchase order.

if funds are not cleared by due date work stops.

If you are over your payment agreement at the merchants, they put you on stop, same applies