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| the network gigs I get often pay if I'm lucky in 45days, usually 60-90. its just that they move slow. if you want the work, thats how it is... and believe me there are a LOT of people who want these gigs. what it really comes down to is you need a large enough float so when nothing comes in for a couple of months, you just go thru and its ok... then you fill the well back up when it does come in. takes discipline and planning... and a couple bigger jobs once in a while 10% is enough sting for most corps to pay in a timely manor.... S On Jun 21, 2012, at 2:05 PM, Greg Balint wrote: > hmm.. never thought it would be illegal to charge 5% per day late.. I probably need to revise that then,. I kinda feel it's necessary to say, "look.. if you're late, you're going to be paying an amount that hits your wallet some.. so please pay on time..make it a point to try to." > > From my point of view, How serious is 10% of an invoice that's $1,200? $120 bucks? plus 1-2 percent on top of that after a couple of months?, so after 60 - 90 days (1/6th to 1/4th of the year), they can finally pay me and it only cost them $140 extra from what the initial invoice was? Seems like a nice way to say "You can pay me late and it'll only cost you a little bit of money." and what if the invoice is $250.. I charge them 30 bucks? doesn't seem like much in the incentive to pay field.. > > I'd rather them know that there will be an undesirable fee accruing.. anyone doing business with me should easily be able to pay me in about 30 days. If not, mostly likely they are choosing to hesitate with me.. I don't have the option to deliver late to them, why should they get that advantage when delivering what I want? Obviously I have a few clients who i'll work with on this, as I know they are in the same sort of situation I'm in.. these "friend clients" as I call them, have proven their worth over years and years of working with them. This is more of a concern with new, first time, never met you and you live in a foreign state or country, type of clients. > > I just read online that it's more acceptable to charge a "Late Fee" of a certain definite amount, which could be customized per project/contract. The percentage of interest is where it becomes a legal issue with loan sharking of the district you live in. As long as the complete and flat "fee" (which can be one time, or per day/week/month) is stated in the contract, and the client signs, then they agree to that exact amount and it is not a fluctuating percentage of base type of thing... So something like "a late fee of $50 / day up to 20 days" may be more direct and effective. > > > Maybe I'm just bitter, because I've been out of work for a little while, and now that I've got work going again, I'm waiting around for payments and they're taking the full 30 days.. even 30 days after having a dry spell at work, can cause some considerable problems.. > > I don't have a rubber band budget to be able to allow clients a couple of months, and want to do everything I can to ensure they don't feel like that's an option. If I get 5 new projects from current, trusted small indie clients, all at the beginning of the month, all with smaller budgets, say $750, and they all want to pay at the end because it's a smaller budget and they don't get paid until their client gets paid, etc.. then I'm stuck working all month with no pay, then when I'm done at the end of the month, and looking for more work they have a full month after I'm finished before they need to pay me.. that's already a very long time to wait, especially when you've had a dry spell, and the coughers may be getting tight.. > > Bah.. sorry for the rant.. I just find it necessary to hold clients accountable, just as they would hold us accountable.. > |
