Comments on: The most insane payment terms ever http://www.carsonified.com/misc/the-most-insane-payment-terms-ever We love the web! Thu, 28 Aug 2008 01:56:23 +0000 http://wordpress.org/?v=2.0.5 by: UK Debt Blog » The most insane payment terms ever http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-24086 Tue, 09 Oct 2007 14:23:54 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-24086 [...] Cunning Linguist wrote an interesting post today on The most insane payment terms everHere’s a quick excerptThey’re making it so damn hard to get paid promptly that I’m sure most people give up (including us!). Sheesh. This just seems wrong - why can’t you pay your bills on time (within 30 days), like everyone else? This strong-arming is just … [...] […] Cunning Linguist wrote an interesting post today on The most insane payment terms everHere’s a quick excerptThey’re making it so damn hard to get paid promptly that I’m sure most people give up (including us!). Sheesh. This just seems wrong - why can’t you pay your bills on time (within 30 days), like everyone else? This strong-arming is just … […]

]]> by: Graeme Sutherland http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-24055 Tue, 09 Oct 2007 10:29:59 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-24055 Well.... for large organisations that don't pay on time, you can always call up their corporate communications/PR department and talk to them about the press release you've just written about how big companies often exploit small companies, and how they'll be a featured example if they don't pay up now. It really works. Well…. for large organisations that don’t pay on time, you can always call up their corporate communications/PR department and talk to them about the press release you’ve just written about how big companies often exploit small companies, and how they’ll be a featured example if they don’t pay up now.

It really works.

]]> by: martine parry http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-23935 Mon, 08 Oct 2007 23:40:17 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-23935 I know of a case where MS was taken to court by a freelance copy-writer and they paid up! I think the basis of what happened there was the marketeer he worked for at MS never had the budget to pay him - but was either cocky trying to make himself look good compared with his peers or was bullied by senior management into trying to do more for less budget. It happens and my friend nearly went bust because of it. I am wary of working with large companies as a result but this happens wherever you are in the chain. My bad debts are always the large companies. I usually ask for a commissioning fee for larger amounts of work and if the client isn't up for it then they'll probably be bad clients in the long term - you can feel it in your guts! I know of a case where MS was taken to court by a freelance copy-writer and they paid up! I think the basis of what happened there was the marketeer he worked for at MS never had the budget to pay him - but was either cocky trying to make himself look good compared with his peers or was bullied by senior management into trying to do more for less budget. It happens and my friend nearly went bust because of it. I am wary of working with large companies as a result but this happens wherever you are in the chain. My bad debts are always the large companies. I usually ask for a commissioning fee for larger amounts of work and if the client isn’t up for it then they’ll probably be bad clients in the long term - you can feel it in your guts!

]]> by: Pete Mulder http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-23340 Sat, 06 Oct 2007 08:18:09 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-23340 Once, I had to wait for almost 8 months to get paid for my work. After half a year or so, they had an 'urgent request'. I replied with a mail that I tried to make look as an automatic reply stating: "We'll be happy to inform you that we've synced our response time with ou customers. Please try again in [6] months. Thank you" I like to think that this did 'speed up' things (it only took them two more months), but since the department that's paying for your work is not related to/does not care about the one that needs you, this is probably not very likely. (that's why I ended up doing that request anyway) In a previous life, I worked at a big company where Accounts payable's target was to keep invoices outstanding for 3 months, and Accounts receivable to get the money in within 2 weeks. Appearantly it's common, but not my way.. Once, I had to wait for almost 8 months to get paid for my work. After half a year or so, they had an ‘urgent request’. I replied with a mail that I tried to make look as an automatic reply stating:
“We’ll be happy to inform you that we’ve synced our response time with ou customers. Please try again in [6] months.

Thank you”

I like to think that this did ’speed up’ things (it only took them two more months), but since the department that’s paying for your work is not related to/does not care about the one that needs you, this is probably not very likely. (that’s why I ended up doing that request anyway)

In a previous life, I worked at a big company where Accounts payable’s target was to keep invoices outstanding for 3 months, and Accounts receivable to get the money in within 2 weeks.

Appearantly it’s common, but not my way..

]]> by: Ryan http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22660 Tue, 02 Oct 2007 19:26:24 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22660 I always remember my first boss' advice... 'learn when to sack clients.' I always remember my first boss’ advice… ‘learn when to sack clients.’

]]> by: James McCarthy http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22535 Mon, 01 Oct 2007 18:47:44 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22535 Protracted payment is standard practice for huge US MNC's, in fact many stick to 60 or 90 days and the supplier be damned. When I worked for one I and frequently had my business phone line cut off because the telecoms company crazily expected to be paid in the quarter they invoiced. Having to explain an (obstructive) internal process on an external communication gives a pretty good indicator of the companies efficiency. Ever seen the film Brazil... Protracted payment is standard practice for huge US MNC’s, in fact many stick to 60 or 90 days and the supplier be damned.

When I worked for one I and frequently had my business phone line cut off because the telecoms company crazily expected to be paid in the quarter they invoiced.

Having to explain an (obstructive) internal process on an external communication gives a pretty good indicator of the companies efficiency.

Ever seen the film Brazil…

]]> by: Ryan Behrman http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22338 Sat, 29 Sep 2007 21:05:26 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22338 I include payment terms in my contracts. If a client signs the contract and then fails to meet those terms, I keep pestering them for payment (but in a professional and polite way). If this doesn't work then I would find out my rights and send letters of demand as well. Big clients may feel they're too big to be affected by small fry, but it might be easier for them to just pay up than be nagged constantly and continuously (remember, you are in the right!). This may all sound obvious but you need to run a tight ship to keep afloat. I include payment terms in my contracts. If a client signs the contract and then fails to meet those terms, I keep pestering them for payment (but in a professional and polite way). If this doesn’t work then I would find out my rights and send letters of demand as well. Big clients may feel they’re too big to be affected by small fry, but it might be easier for them to just pay up than be nagged constantly and continuously (remember, you are in the right!). This may all sound obvious but you need to run a tight ship to keep afloat.

]]> by: Giovanni Intini http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22295 Sat, 29 Sep 2007 09:11:09 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22295 I'm Italian too, and I have to reaffirm what Jacopo said. Italy is a bad bad place to work. In the south of Italy (the poorest part) payment terms start from 120days but can go up to 180. When I started my company (after a bad experience with another one) I made myself the promise I would refuse jobs where I could not negotiate correct payment terms. So far I've been lucky with my clients, but I had to say no to interesting jobs just because of the payment terms, and sometimes that sucks. I’m Italian too, and I have to reaffirm what Jacopo said. Italy is a bad bad place to work. In the south of Italy (the poorest part) payment terms start from 120days but can go up to 180.

When I started my company (after a bad experience with another one) I made myself the promise I would refuse jobs where I could not negotiate correct payment terms.

So far I’ve been lucky with my clients, but I had to say no to interesting jobs just because of the payment terms, and sometimes that sucks.

]]> by: Jacopo http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22245 Fri, 28 Sep 2007 13:29:57 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22245 I'm writing from Italy, where yuor customer pay after 90 days from the end of the month. This doesn't surprise me. Here you negotiate the paiment terms with every customer, there isn't a default like in UK. The days usaully are 60, 90 or 120 :-(. That notwithstanding I would be happy if the customer paid according to paiment terms. The big problem in Italy is that all the customes, really all, pay late. You must open a line of credit to face this delays and pay a commission to the bank for your missing earning. Are you thinking to a lawyer? Bad idea. In Italy the law is later then your customers and you chance to go out of business. These are the rules of the game. I’m writing from Italy, where yuor customer pay after 90 days from the end of the month. This doesn’t surprise me. Here you negotiate the paiment terms with every customer, there isn’t a default like in UK. The days usaully are 60, 90 or 120 :-(. That notwithstanding I would be happy if the customer paid according to paiment terms. The big problem in Italy is that all the customes, really all, pay late.
You must open a line of credit to face this delays and pay a commission to the bank for your missing earning.
Are you thinking to a lawyer? Bad idea. In Italy the law is later then your customers and you chance to go out of business.

These are the rules of the game.

]]> by: rob http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22231 Fri, 28 Sep 2007 09:11:51 +0000 http://www.carsonified.com/misc/the-most-insane-payment-terms-ever#comment-22231 sorry, that's mr sweaty. i don't own balmer. yet. sorry, that’s mr sweaty.

i don’t own balmer. yet.

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