Do they vary by the type of job? By the Client? In what situations will you withhold delivery or recording before payment? Do you demand partial payment upfront?
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Nominally net 30 days, but clients of all kinds routinely ignore that.?ÿ Small outfits usually pay sooner, larger ones later.?ÿ I have one architecture client that sometimes runs 180 days.?ÿ I've learned to adjust my fees for that firm accordingly.
Terms are invoice payable on receipt, something the solicitor suggested.
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Most jobs are do the work, invoice, get paid release deliverable. Speeds up cash flow no end. With local Council and odd corporate client they pay 20th of following month.
Most 30 days but am leaning towards delivery after payment for non b2b clients. And 14 days for b2b.
If a company only wants to pay 120 days end of month they can search another fool. Don't do those anymore.?ÿ
Do they vary by the type of job? By the Client? In what situations will you withhold delivery or recording before payment? Do you demand partial payment upfront?
A) don??t vary much by job or client.
B) almost every case I am paid 100% before setting the final corners and recording. ?ÿIt is my reputation on the line to get the work done as quickly as I can once I have all the money. ?ÿI have learned these past two years that folks will wait very patiently six months after having paid $4,750 in June, for example, on a 50% retainer for me just to start the work in December, then about a month for me to finish and submit a PRO-FORMA copy with the $4,750 balance due invoice, for example. ?ÿWhich they pay very quickly. ?ÿThen I try my best to address any last minute comments from the county before getting signatures and recording the final product, which can take some more weeks.
Under Promise.
Over Deliver.
Manage Expectations.
Communicate (even with bad news, especially with bad news).
Hope your getting double time if you are waiting 3 months to be paid!
Indeed, the bottom line is what counts.?ÿ Getting paid on delivery sounds nice, but most of my clients -- public agencies and large institutions -- simply don't work that way, so my rates reflect the cost of financing their debt.
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Private clients pay up front until we hit 10k. After that each job is unique. Agencies pay according to the rules they operate under.