Doing a little research for something that may go into print, so please no names - a little bird tells us that a certain user of subbies is going to go from 30 days to 60 days -but is offering a 30 day payment from invoice for a 5% reduction so what is the average most hauliers expect - and no I am not going to name the company unless I can confirm what is only rumour- but it is not a haulage company
My main work for a family run firm is 28 days on the dot and they pay it without question and on time,
I occasionally back load for a huge International company who,s name we all enjoy pronouncing wrong 
They pay on 45 days, but its only on average a load or 2 a week so i put up with it
Best one hands us a cheque in exchange for the invoice. A handful on 7 days, 1 on 14 days, most at 30 days from the job and a few Herbert’s that’ll drag it out past 60. Worst one so far is 24 months!
Well apart from 3 that’ve gone ■■■■ up and paid nowt.
there is one company that i pull for that is work week 1, paid week 2
another is work week 1, paid week 3
another is work week 1, paid week 5
all weekly after that
i certainly would not go to 30 days from month end or longer
The firm i used to haul for full time and was owned by one person and his partner was the financal director payment terms was 90 to 120 days even the last invoice which was only about £90 still took 90 days i now work for different small firms and payment is week after the invoice has gone in
I’m on 30 days end of month but if I was offered 5% more to go 60 days end of month, I’d bite their arm off because I couldn’t get a 5% per month return on my money if I lent it to the bank.
We pay 30 days from the date of receipt of the invoice. or if a small company drop by with the invoice and we pay on the spot as some people on here can testify 
I can’t see how firms can agree to be paid on terms of longer than 28 days without a consumer credit licence.
If your business sells goods or services on credit, offers goods for hire or provides debt counselling or debt adjusting services to consumers, you almost certainly need to be licensed by the OFT.
Engaging in licensable credit activities without a credit licence is a criminal offence, and can result in a fine and/or imprisonment. Businesses cannot normally legally enforce a credit agreement if they are not licensed.
walks on, hands in pockets, whistling some random ■■■■ hid dad used to recite…
Doing tipper work firm I mainly worked for was cheque on receipt of invoice for 5%
Others were 30 days. One was 90 days but I only done the odd load here and there.
On general one was send invoice cheque by return of post the other was 30 days
I did a couple of jobs for a dodgy reprobate, no names, as he is a member on here
Did the job, fired the invoice off to him by email, money was in the bank within 30 minutes
Covered another couple of jobs for the same reprobate by subbing it out to another member on here, same again, invoice fired off, money in bank at the end of the week (couple of days tops), and as soon as I received the invoice from the guy I subbed it out to, it was paid within 24 hours
Harry Monk:
I’m on 30 days end of month but if I was offered 5% more to go 60 days end of month, I’d bite their arm off because I couldn’t get a 5% per month return on my money if I lent it to the bank.
Read the post properly Harry, it was a 5% reduction for 30 days, not the other way round.
Yes, I appreciate that, and as to the deal being proposed then I don’t know what I would do, but I don’t think I would accept a 5% rate reduction so I would probably look elsewhere for work.
i was thinking same thing - why would anyone take a 5% reduction in anything let alone your invoice (food on table) it’s just not going to happen.
rikki the firm you’re talking about must surely be about to hit the skids if this is what they’re proposing. you talk yourself of doing background checks i suggest that one is done on this firm cos i don’t think that they’ve got the required amount of capital behind them
stay well clear of this firm…
Not having worked for one but I presume that this is one (and probably only) advantage of working for an agency, they take up the slack between paying you and them receiving the money. Although I might be wrong 
foxy stars:
i was thinking same thing - why would anyone take a 5% reduction in anything let alone your invoice (food on table) it’s just not going to happen.rikki the firm you’re talking about must surely be about to hit the skids if this is what they’re proposing. you talk yourself of doing background checks i suggest that one is done on this firm cos i don’t think that they’ve got the required amount of capital behind them
stay well clear of this firm…
Sage advice there Foxy, take heed people, our resident mogul has entered the building!
All depends on the cashflow of said company. i have a various arrangements in place my biggest customer is 14 days so i could use that money twice for people we pay on 30 days. a couple of customers at 60 days and a few Italian customers at 90 days which normally means 120. we can pay people quick and others we go strictly to the 30 days. but if you take into account with European work a driver can be away from base for 4 weeks. he does a job in week one. faxes us the cmr we invoice our customer by the time his boss has the paperwork sends it to us with the invoice payment terms in reality are 60 days +. others email the invoice and cmr which we accept a lot wont. you have to balance things out or you will go bust quicker than you think. paying people straight away but waiting for your money is a sure fire recipe. i suspect that the company being discussed by rikki will be on 45 day terms with the line or 30 days eom which is the same so drawing a fine line on payment terms. the interest earned in the bank these days would not cover the cost of a office dweller for 1 hour so not worth the hassle.
You guys want to try working for farmers and abattoirs
Invoices generally go out at the end of the month, a few pay by return, some pay within 30 days, the majority pay 30-60 days from invoice !
Of course, as most are regular customers it’s quite easy to adjust the rate for the ones that have trouble remembering to pay
One of the largest companies in the country has been settling invoices at 90 days for at least 30 years. Settlement is always correct to the last penny but they like using what is, effectively, your money for a while.