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I agree with Bernhard. Late payers pay always late, no matter your delays.
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Jacqueline White Austria Local time: 11:50 Hungarian to English + ...
Don't extend the payment term
Aug 11, 2015
Aside from anything else, the advantage of a shorter payment term is that you don't have the problem of continuing to take on jobs for the client over a longer period, while unaware whether there will be payment issues or not.
It's true that some companies have invoicing cycles, but they should inform you of that in advance. Based on personal experience, I'd be very unwilling to work again for any agency that paid more than 5-10 days late, unless it provided a reasonable explanation... See more
Aside from anything else, the advantage of a shorter payment term is that you don't have the problem of continuing to take on jobs for the client over a longer period, while unaware whether there will be payment issues or not.
It's true that some companies have invoicing cycles, but they should inform you of that in advance. Based on personal experience, I'd be very unwilling to work again for any agency that paid more than 5-10 days late, unless it provided a reasonable explanation for the delay. ▲ Collapse
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Christine Andersen Denmark Local time: 11:50 Member (2003) Danish to English + ...
The Late Payment Directive requires public authorities to pay their suppliers within 30 calendar days of receipt of an undisputed invoice, matching the UK Government's standard practice. Payment terms for business to business payments as fixed in the contract cannot exceed 60 days unless otherwise expressly agreed, provided that the terms are not "grossly unfair". Under the Directive, the 60-day limit also applies where a public authority is carrying out "economic activities of an industrial or commercial nature" by offering goods and services on the market. However, the UK has opted to keep the limit at 30 days for this type of contract.
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