Bigger contracts

[Stefan Palokangas]

I jumped in green in this, I do different next time

[richy_B]

I have a 25% surcharge on overdue accounts in my T and Cs....14 days on domestic work, 28 days on commercial....pay late, pay more.

Good to have than in there but it has to be enforceable and worthwhile you enforcing it. Lots of companies will pay the original amount then the onus is on you to decide about chasing the 25%. Between a rock and a hard place.

[Mesterh]

29 minutes ago, Stefan Palokangas said:

Last one was 60 days, this one i spent a lot on and they keep adding on work.

Price it after I was shown and then changing goal post.

A nightmare.

We live and learn

I'm sure you will be fine but I know more than a few firms who have done the same only to be greeted by a letter from the liquidators. They all fell into the subby bashing trap of doing more and more work, chasing invoices that the company they worked for knew where never getting paid as they were going bankrupt on xxxx date. Or knew that they could bankrupt the firm they were hiring in by holding back payment. 

 

So a word of warning, don't trust anyone and don't tell them if you are in financial difficulty.

 

Sorry to be negative but I've seen it happen plenty of times and it's happened to us once but at least we pulled out when they only owed us a£1000

 

 

[Stefan Palokangas]

I'm sure you will be fine but I know more than a few firms who have done the same only to be greeted by a letter from the liquidators. They all fell into the subby bashing trap of doing more and more work, chasing invoices that the company they worked for knew where never getting paid as they were going bankrupt on xxxx date. Or knew that they could bankrupt the firm they were hiring in by holding back payment. 
 
So a word of warning, don't trust anyone and don't tell them if you are in financial difficulty.
 
Sorry to be negative but I've seen it happen plenty of times and it's happened to us once but at least we pulled out when they only owed us a£1000
 
 

Wish it was outlays of a 1000 for me [emoji3][emoji3][emoji3]

Just need to take a positive approach and learn, I didn’t have to much of experience from larger works.

I’m learning fast [emoji23][emoji23]

[roseyweb]

Most of our commercial is 90 days but you get use to it 

I usually have a look on company check for new clients, if they've not been trading long or lots of closed companies and jubious directors with defunct companies they don't get much credit and I usually stipulate payment on completion. 

[skyhuck]

I won't work for any firm that has terms beyond 30 days on principle.  

 

90 days is ridiculous, IMO.

[skyhuck]

1 hour ago, arbogrunt said:

I have a 25% surcharge on overdue accounts in my T and Cs....14 days on domestic work, 28 days on commercial....pay late, pay more.

You would be better to have an inflated quote and offer a discount for early payment, this will be far easier to enforce, IMO.

[Mark Bolam]

To my mind, now (and believe me I've cocked up more than most along the way) it's a simple matter of discussing and agreeing payment terms at quotation stage, not after sweeping up the stump rakings.
Domestics are payment on completion. Dead simple. Waiting for pay day? Call me after pay day!
180 days? OK, a £1000 job will be £3000, if you're happy with that sign here Mr. Tesco.
What's that Mr. Bovis, you need some limbs taking off tomorrow so you can get a 100 tonne crane in the next day for an important lift?
No problem, but I want paying before we leave, and I want to see the cheque before we start.
Feel free to call some other mugs if you don't like it.
It's all business. Remember it works two ways.
Too many arbs cream their pants at the promise of a big pay out, and many have gone under before they've got enough to pay for a pair of Calvins.
PAYMENT TERMS AGREED AT QUOTATION STAGE ok?
Sorry for shouting.

[arbogrunt]

1 hour ago, skyhuck said:

You would be better to have an inflated quote and offer a discount for early payment, this will be far easier to enforce, IMO.

you could be right there. I've had it for about 15 years or so and only had to use it twice through small claims court. I find the threat of it enough. I do exactly what you suggested for Estate Agents, when I can bother my arse to quote for them, they seem to regard non-payment as some kind of sport

[rapalaman]

I specify 14 days payment terms for commercial or I don't do the job = simples. Local Estate Agent I work for regularly, always pay promptly - the record so far is 12 hours, always paid within the 14 days