Discussion in 'SMB' started by Secret Visage, Jan 17, 2018.
All the fat bastards at work been complaining cos the vending machines are not being topped up.
Never actually worked for these
Refused to price work for them a few month ago mind, fuckers wanted 65 days payment terms
Yeah mate will all the press about you we’re bound to do that
One of the powers that be at our place have granted our biggest client 120 days terms - then wondered why I went ape shit when it was dropped on me in a call
Why the feck should anyone require 4 months!
I have no idea - in the last few years they've gone 90-105 now 120. Only the Uk operations mind, the US and European entities are still on 90
Depends what you do for them I suppose.
not in this instance, they have moved some activities that used to be carried out in the Uk to other Euro entities though due to supply chain disturbance worries
They’ve asked us yesterday to price a job that they are in for down Darlington way. I’ll give Esh and Kier one price and them a higher price. If they are still around after today and win the job, the negotiating of terms will be interesting.
We have a maximum turn around of 30 days now but usually the same week.
At HP I owed one supplier £56k, not a fortune in the grand scheme of things but also not insignificant. The invoice came in in January 2014 and it got paid as the account closed and I got made redundant in January 2015. Well I say it got paid, I have no clue as I got made redundant.
not at you being made redundant mind.
It seems a lot of the vendors payment terms are country specific - most of ours in the UK, France, Germany etc are 30-60 days, get into Slovakia etc and you're looking at 7-14
Aye, it was 90 days at HP.
The UK government were chuntering on about changing this a few years ago, nowt happened.
The upshot is you end up with the likes of Carillion who over invest and over finance on cash flow that’s not really theirs.
The result is they go bump and take shit loads of others with them.
Middle East 120-180 !
They’ll be around, either as the existing company or as a new co bought pre-pack by the lenders.
what field you in Wilf ?
Problem with even say 60 days is you can do a canny size project (200k easy) in 11 weeks before a pennies paid back.
Like school holiday price hikes etc the government will talk shite n do feck all.
Sure I heard Germany is a fortnight strict payment. At least that way you can pull men off (fnarr) before youre absolutely fecked.
As @SPUFF says, we fit out specialist furniture. From what I’ve heard this week, Kier are going to take a massive hit on one of their recent projects. They’ve publicly said £25m but it’s going to be a lot more than that from what I gather. We worked on that project and it was meant to be a 26 week program for us but it went on 18 months before we told them enough is enough. All the senior management team got sacked in the end as well.
At the minute its difficult to tell if these firms are okay to work for wilfy or sit on your hands/cash.
Found out the hard way.
Often like just lending a stranger 40 grand!
I (obviously) am terribly naive about how businesses work. Why would anyone accept waiting four months for payment?
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