Overdue invoice

[Ch4 plumbing]

Do some contracting work for a firm and the contract states 60 days from invoice, I'm waiting at around 73 days now!
Is their much I can do or is it just suck it and see?

 

[EPH]

What have they said?

 

[Ch4 plumbing]

Last week they said "we propose to pay the 3 invoices on Wednesday", nothing in the account and I've just emailed again..

 

[EPH]

Not really much you can do other than keep on their back and annoy them into paying you unfortunately.

 

[hammers4spanner]

Uh oh been here before what type of firm are they ? Big player small firm ?

 

[brum]

I so hate these kinda contractors who hold back and starve the wee firm/sole trader btw good luck in getting yer dough..brum

 

[Chalked]

You may find that it's 60 days from the end of the month it was invoiced!!
Which can be 90 days from when the job was done, if it was early in the month.

 

[Millsy 82]

My dad was telling me that company to company payments should be made within 30 days any later then you can start charging interest. If you have another agreement with them then that won't count. Not sure the ins and outs of it though.

I would get a letter sent out requesting payment in full within so many days send it recorded delivery.

 

[Ch4 plumbing]

Yes fairly large firm, no it's 60 days from invoice being uploaded onto the system which they do every Friday.

Ive been putting money aside so I'm certainly not eating bread and beans for dinner, but it just makes me angry.

 

[hammers4spanner]

The govt do state that businesses to business is 30 days,

You can charge interest but you won't get it just firing a shot over their bow that's all that does

 

[brum]

Not really much you can do other than keep on their back and annoy them into paying you unfortunately.

The worst part of being self employed in my opinion is chasing money I would only ever do 14 days max have not got cash flow to tide me over but I have been there years ago stick with the domestic work who give you a carrier bag full of £20 notes on completion..brum

 

[Ch4 plumbing]

The govt do state that businesses to business is 30 days,

You can charge interest but you won't get it just firing a shot over their bow that's all that does

Really?

they have said it's going to be moving to the 90 day mark so I'm wondering if they are seeing who kicks up, the money is good but I won't be doing work for them any more, the organisation is terrible on all fronts and this is a worry.

 

[hammers4spanner]

The worst part of being self employed in my opinion is chasing money I would only ever do 14 days max have not got cash flow to tide me over but I have been there years ago stick with the domestic work who give you a carrier bag full of £20 notes on completion..brum

Very true stick to domestics small jobs always pay easy cash

Commercial or contract is just hassle

 

[hammers4spanner]

Really?

they have said it's going to be moving to the 90 day mark so I'm wondering if they are seeing who kicks up, the money is good but I won't be doing work for them any more, the organisation is terrible on all fronts and this is a worry.[/QUOTE

Yes mate

Ray Stafford pointed me to a .gov website which states all legal payment terms and what you can do to chase payments

 

[Ch4 plumbing]

Please share mate

 

[Chalked]

Have you got payment terms written on your invoice?

ring three times a day, pester them to death.

 

[WaterTight]

Yes fairly large firm, no it's 60 days from invoice being uploaded onto the system which they do every Friday.

Ive been putting money aside so I'm certainly not eating bread and beans for dinner, but it just makes me angry.

Beans on toast is the dinner of kings. I'll often have it when I've got far superior stuff available because it takes 2 seconds and is bloody brillint. Matter of fact I think I'll have some now.

 

[Ch4 plumbing]

Have you got payment terms written on your invoice?

ring three times a day, pester them to death.

Yes 60 days, what annoys me most is if they were honest I wouldn't mind so much, it's all the carp of telling me days and failing to pay!
dont expect it from a large firm but how Naive I am.

 

[hammers4spanner]

Please share mate[/QUOT

Google late invoice payments .gov

 

[hammers4spanner]

Typical stalling tactics

 

[AWheating]

walk into the office, sit on the desk of the person who deals with account payments and do not move until its paid. Take some car clamps with you so you can clamp the directors cars if they dont play ball. If all else fails, smoke bomb into offices setting off sprinklers and cost them money.

 

[brum]

Really?

they have said it's going to be moving to the 90 day mark so I'm wondering if they are seeing who kicks up, the money is good but I won't be doing work for them any more, the organisation is terrible on all fronts and this is a worry.

The money is good?? its only good when its in your bank not theirs..brum

 

[Ch4 plumbing]

You know it! And only good if I don't have to use credit till it comes (which luckily I don't)

 

[oz-plumber]

I have been through all this payments terms for years. 30/45/60 & 90 days.

I got so fed up having so much dough outstanding and so many 'promises of payments' that I actually now get them to detail their payments terms prior to starting work and even prior quoting for some of the larger jobs.

I 'upset' lots of company's and builders over the last 12 months.
Some have come to the party and others have gone elsewhere.
As far as i am concerned, things have been less stressful and as soon as the money is due, I get on the phone and hound people for money.

If money is not paid by the due date and we are on a job - I just pull up stumps, and take everything we can off site.