Paying Electrician - Installments

[JohnW2]

Fook that warranty percentage. My warranty is based on trust. Give me all my money upon completion.

As a matter of interest, do you often take on "10s of £1000s" contracts?

Over the year, yes.

That's not what I meant. I was asking if you take on many individual contracts which, individually, are each worth "tens of thousands of pounds"

My terms are my terms. They are not negotiable. I don't need the work otherwise.

I'm please to hear that you are able to get enough work without having to negotiate terms. However, I think you would probably find that if you did quote for individual contracts costed at "tens of thousands of pounds" each, your customer(s) would probably want to be able to negotiate the terms of the contract.

Kind Regards, John

 

[Midas Man]

Fook that warranty percentage. My warranty is based on trust. Give me all my money upon completion.

As a matter of interest, do you often take on "10s of £1000s" contracts?

Over the year, yes.

That's not what I meant. I was asking if you take on many individual contracts which, individually, are each worth "tens of thousands of pounds"

My terms are my terms. They are not negotiable. I don't need the work otherwise.

I'm please to hear that you are able to get enough work without having to negotiate terms. However, I think you would probably find that if you did quote for individual contracts costed at "tens of thousands of pounds" each, your customer(s) would probably want to be able to negotiate the terms of the contract.

Kind Regards, John

I'm with what you're saying.

If I look at their contract and it doesn't suit my terms then I'm out of there.

I'm well known in my game and my reputation speaks volumes.

I'd never have money held back based on warranty. The NICEIC would cover any warranty, if necessary, if I chose to take the money and run, which I wouldn't.

It's nice to be in a position of pick and choose. Hasn't always been this way though but years of hard graft pays off.

 

[Lectrician]

There are insurance policies available to cover retainers. Retainers are very common on large contracts. Large contracts will have payment stages built in also. If you don't use a policy for your retainer, you build the cost into your tender. Foolish not to.

If you want to cut you're nose off and loose lucrutive jobs, sure, bully your terms.

As said, it varies from area to area, but you, Mr Midas, would loose every job around here.

 

[Midas Man]

I get you.

Thankfully, with all due respect, I'm glad I don't have to live by you then!

 

[Midas Man]

And it's 'lose' not loose, btw. Not being pedantic mind.

 

[JohnW2]

There are insurance policies available to cover retainers. Retainers are very common on large contracts. Large contracts will have payment stages built in also. If you don't use a policy for your retainer, you build the cost into your tender. Foolish not to. If you want to cut you're nose off and loose lucrutive jobs, sure, bully your terms. As said, it varies from area to area, but you, Mr Midas, would loose every job around here.

I'm not surprised to hear that.

Albeit in totally different fields, when I am involved, on behalf of a client, in outsourcing work worth tens or hundreds of thousands (or sometimes more) to contractors, I/we would simply 'reject' any tendering contractor who had indicated that they were not prepared to negotiate terms, or who proved to be unprepared to negotiate terms. That's just not how the world of big contracts works!

Kind Regards, John

 

[Midas Man]

Check out big boy John and his big buck contracts.

I'm happy making a living my way as I'm sure others are theirs.

 

[JohnW2]

Check out big boy John and his big buck contracts. I'm happy making a living my way as I'm sure others are theirs.

Sure, but I suspect from what you're saying that your individual contracts are rarely, if ever, for more than 'a few thousand' at most - a level at which most customers are probably happy to accept your terms without argument or negotiation.

I have been responding to Lectrician's comments about the expectation of customers/clients when the contracts are for "tens of thousands", and that's an entirely different ballpark, of which you probably have limited, if any, experience.

Kind Regards, John

 

[ban-all-sheds]

On the other hand, a relative was building an extension for a client just before the last recession. He was about £12k out of pocket when the client was made redundant, with no payoff so he was unable to pay.

And what were the financial implications of that for him and his family?

 

[ban-all-sheds]

Sure, but I suspect from what you're saying that your individual contracts are rarely, if ever, for more than 'a few thousand' at most - a level at which most customers are probably happy to accept your terms without argument or negotiation.

I have been responding to Lectrician's comments about the expectation of customers/clients when the contracts are for "tens of thousands", and that's an entirely different ballpark, of which you probably have limited, if any, experience.

Indeed - different contract values, and the durations of commitments to ongoing business, can make very significant differences to how terms, payment schedules, lines of credit, discounts etc are negotiated, or even if any of them are up for negotiation in the first place.

If you want a box of fries from McDonalds, your freedom to negotiate on how much, and when, you pay is somewhat limited. If you go to McCains with a requirement for 100 tonnes of frozen fries per month for the next 5 years then there will be a much greater scope for discussion of those things.

Provider profit margins are also very significant, as are how and where those profits are deemed to arise.


Midas - there is a world out there which you appear not to comprehend.

And I'm having a bit of a problem comprehending yours:

If I supply the materials then the customer STILL PAYS UP FRONT!

Give me all my money upon completion.

There's a dichotomy there.

 

[Midas Man]

I know my world clearly. My status and wealth are cemented.

It's just mine is different from yours, if you see.

 

[ban-all-sheds]

Indeed. Perhaps then you should not be so dismissive/contemptuous of different ones.

But we can stick to your world, for this:

If I supply the materials then the customer STILL PAYS UP FRONT!

Give me all my money upon completion.

Which is it? Up front, or on completion?

 

[Midas Man]

Don't band my words together to make it look like I've contradicted myself.

The customer always pays me up front when it comes to materials, like I stated when discussing that part.

I'm always paid in full upon completion, leaving nothing behind, like I stated when discussing that part.

Don't merge the 2 as they're different circumstances.

 

[ban-all-sheds]

No they aren't.

Either you have staged payments, or you don't.

Either you get paid in full on completion, or you get paid something before you've finished and something after.

 

[Lectrician]

And it's 'lose' not loose, btw. Not being pedantic mind.

I also mis-used YOU'RE, but you missed that one. I tend to rush, and the iPad tends to try to help predict. I also use too many commas from time to time, but I'm an electrician, not a linguist or grammarian.

Everyone has their own views on payments and terms, if everyone had the same views and requirements, there would be no need to stipulate and agree them. From my experience in my area, asking for money up front, or putting my hand out as I leave a job, would not go down very well with customers. I can understand it may be different for others, that's fine.