Being strong and standing firm.
(WORLD) As a small company getting paid is kind of a big thing.
About a year into MediaSnackers I developed our 'plain english' payment policy which has been shared with several friends and colleagues (who have found themselves struggling to get paid for the work they had done).
Here it is for anyone who hasn't got one:
This payment policy is written in ‘plain english’ to ensure clarity and understanding.
It's for use by MediaSnackers relating to any parties, organisations, companies
or individuals wanting MediaSnackers involvement in consulting, training and/
or speaking/participation at any kind of event/project(s).The payment policy is simple: 50% up front and 50% upon completion plus
expenses (which include transport fares, accommodation costs and food
expenses if applicable).An invoice for 50% of the agreed fee will be issued to the client and needs to
be paid in full up front to secure the booking (within the 14 day period as
stated on each invoice). If payment is not received MediaSnackers reserves the
right not to be involved and to release the date for other clients bookings.
Upon completion of the contracted services, a further invoice will be issued to
the client for the remaining 50% of the agreed fee plus details of any expenses
incurred.We understand and will exercise our statutory right to interest and
compensation for debt recovery costs under the Late Payment of Commercial
Debts (Rate of Interest) (No. 3) Order 2002, if we are not paid according to
agreed credit terms and schedule. MediaSnackers also reserves the right to
add £100 in additional administrative fees if this course of action needs to be
pursued.That's it folks…
Why aren’t all policies this easy?
Thank you in advance for your time and looking forward to working with you.
MediaSnackers Team.
Addendum, we've had some fun over the years with organisations and companies stating their own payment policies which have ranged from 30 days to three months. For us it's simple : when you buy from us it's under our terms.
Nothing to do with arrogance or being bullish here but simply protecting the crucial cashflow needed in a small company.