Pages in topic: [1 2] > | Poll: Would you normally work with an agency that uses a 60-day payment term? Thread poster: ProZ.com Staff
|
This forum topic is for the discussion of the poll question "Would you normally work with an agency that uses a 60-day payment term?".
This poll was originally submitted by Thomas Johansson. View the poll results »
| | |
It is under the human dignity such a long-term, "ain´t" it? | | | Many agencies | Jun 18, 2018 |
Many agencies make the same thing, but others pay after 30 days. | | | Angus Stewart United Kingdom Local time: 11:29 Member (2011) French to English + ...
Yes, I work with some agencies that pay at 60 days from the end of the month provided that they pay my rates. I am far more interested in being paid a decent rate than in the payment term. However, I regard a payment term of 120 days which some agencies propose as being a step too far. | |
|
|
Yes, it depends | Jun 18, 2018 |
I have couple of those, but mostly they got me by surprise i.e. all other conditions were fine like rate etc. - and then I forgot to verify their payment terms. However, I don't agree with those long payment terms. 45 days are absolutely max. | | |
Yes, I work with three agencies that pay at 60 days, they pay my rates and they have been paying like clockwork for some years. In contrast, two other agencies pay the day after receiving my invoice… | | | Julian Holmes Japan Local time: 19:29 Member (2011) Japanese to English Hmmm, Yes and No | Jun 18, 2018 |
It depends on what you mean by "60-day payment term." Japanese law states that "Payment be made within 60 days of delivery or earlier wherever possible." The operative phrase here is "60 days of delivery" not "60 days of the account closing date." Now, that means the following here in Japan: June 1st delivery, payment 60 days later June 15th delivery, payment 45 days later June 30th delivery, payment 30 days later This is because a... See more It depends on what you mean by "60-day payment term." Japanese law states that "Payment be made within 60 days of delivery or earlier wherever possible." The operative phrase here is "60 days of delivery" not "60 days of the account closing date." Now, that means the following here in Japan: June 1st delivery, payment 60 days later June 15th delivery, payment 45 days later June 30th delivery, payment 30 days later This is because accounts for almost all companies are closed at the end of the month and payment is made at the end of the following month. Payment 60 days from the account closing date would not be acceptable as this would be illegal in almost all cases and subject to a late payment surcharge, which is fixed at an annual rate of 14%, in addition to being subject to investigation by the Fair Trade Commission. Something useful to know if you have Japanese clients. HTH ▲ Collapse | | | neilmac Spain Local time: 12:29 Spanish to English + ...
Why not? Although I rarely work with agencies nowadays, one I still have contact with occasionally has been banned from posting on proz and has a very poor blue book rating. AFAIK know, this is because they pay at 60-90 days and often used to pay even later. I usually pass on their offers of work to colleagues who I know will be glad of the chance, despite the conditions (they usually want short deadlines and sometimes send PDFs rather than more workable formats). Having worked in S... See more Why not? Although I rarely work with agencies nowadays, one I still have contact with occasionally has been banned from posting on proz and has a very poor blue book rating. AFAIK know, this is because they pay at 60-90 days and often used to pay even later. I usually pass on their offers of work to colleagues who I know will be glad of the chance, despite the conditions (they usually want short deadlines and sometimes send PDFs rather than more workable formats). Having worked in Spain for over twenty years, I have seen small companies which really do struggle when it comes to paying on time, so I try to be understanding unless I think they're deliberately trying to dodge payment for whatever reason. In fact, two of my current long-standing direct non-agency clients (who happen to share the same accountant) rarely pay within two or three months, in fact I think one of them still has to stump up for an invoice issued in February. They are small businesses, and I know that they will eventually pay in the end, so as long as my other clients are paying me on time, I can afford to be flexible with these two "miscreants". In fact, I just checked and one of them has just paid me 50% of a bill I issued to them in January. I've issued another 4 to them since then, so I suppose they haven't paid those yet either. They must really be struggling. As for the other late payer, I have to issue them another bill for recent work before they all disappear for the summer... and it's anybody's guess when they'll stump up. Heigh-ho... I suppose most people posting on here would be having kittens by this time if they were in my shoes, but the way I look at it you can't get blood out of a stone.
[Edited at 2018-06-18 16:40 GMT]
[Edited at 2018-06-18 16:44 GMT] ▲ Collapse | |
|
|
Martha Schwan Brazil Local time: 07:29 Member English to Portuguese + ... Extremely Abusive | Jun 18, 2018 |
I personally think that a 60 day payment wait is extremely abuse and I do not accept such terms. I prefer to refuse such a job. | | |
Payment term is not so crucial for me compared to the volume, deadline and notice. A small project on a short notice with a tight deadline is hardly deserved to be accepted on such long payment term. A big or medium project with prior notice and reasonable deadline from a reputable agency - why not? | | | | Thayenga Germany Local time: 12:29 Member (2009) English to German + ...
The services provided are translations and creative writing, not granting interest free loans. | |
|
|
I am in the professional translation business, not financial services | Jun 18, 2018 |
I checked with my local bank, whether they offer translation services, and the answer was a clear NO. So why should I offer financial services, where I'd be a complete amateur? As banks compete against each other on which one lends money with the best (i.e. lowest) interest rates, mine - as an amateur in their trade - should be the highest. When the job crosses borders, the situation gets worse. I am in Brazil, where the monthly (sic!!!) interest rate on lo... See more I checked with my local bank, whether they offer translation services, and the answer was a clear NO. So why should I offer financial services, where I'd be a complete amateur? As banks compete against each other on which one lends money with the best (i.e. lowest) interest rates, mine - as an amateur in their trade - should be the highest. When the job crosses borders, the situation gets worse. I am in Brazil, where the monthly (sic!!!) interest rate on loans is two-digits in %. If customers in countries where the interest rate is a (small) fraction of 1% wouldn't think of securing loans from banks in Brazil, why do they want to do it with translators like me? What's the point of maneuvering translators into provide underfunded agencies with operating capital? There are (too) many agencies using a weirdly unsustainable business model... They collect from their clients up-front, on delivery, or in a couple of weeks. Then they pay their translators 60 or more days later with the payment from the NEXT job they get! In the meantime, they'll have plenty of cash to play with. If the demand declines, they'll default under the excuse that the client hasn't paid yet, however leaving it unmentioned that it's the NEXT client who hasn't paid, not the same one. They rely on a leonine NDA that establishes a cash penalty of maybe 10x or even 100x the amount at stake, if the translator dares to contact the end client directly to check whether they paid the agency for that specific job. Just say NO, and they'll have to find some other industry to play this game. AFAIK translation is the only widespread and unregulated industry where this is viable, as it is overpopulated with amateurs who will wing it in exchange for some cash expectation in the distant future. ▲ Collapse | | |
As a general rule, no, not for new clients. However, having lived 10 years in Italy, I'm aware of how terrible payment practices there impact agencies I've worked with, and that sometimes 60 days is a compromise between that my standards are (max one month) and how they are paid (often at 90 or 120 days). So for long-term clients, I'm willing to accept this if there is no other way. | | | Ventnai Spain Local time: 12:29 German to English + ... Used to be the norm | Jun 18, 2018 |
Such terms used to be the norm among the agencies that I worked for but most seem to be paying within around 40 days or fewer now. I added a phrase to my invoice stating that the payment period is thirty days but I don't know if that is the reason why. Germany seems to be tightening up its invoice legislation, so that might be a reason. | | | Pages in topic: [1 2] > | To report site rules violations or get help, contact a site moderator: You can also contact site staff by submitting a support request » Poll: Would you normally work with an agency that uses a 60-day payment term? Trados Business Manager Lite | Create customer quotes and invoices from within Trados Studio
Trados Business Manager Lite helps to simplify and speed up some of the daily tasks, such as invoicing and reporting, associated with running your freelance translation business.
More info » |
| TM-Town | Manage your TMs and Terms ... and boost your translation business
Are you ready for something fresh in the industry? TM-Town is a unique new site for you -- the freelance translator -- to store, manage and share translation memories (TMs) and glossaries...and potentially meet new clients on the basis of your prior work.
More info » |
|
| | | | X Sign in to your ProZ.com account... | | | | | |