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Ensuring Payment for Consultancy Work

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  • 13-09-2012 1:50pm
    #1
    irish_goat
    Moderators, Recreation & Hobbies Moderators Posts: 5,796 Mod ✭✭✭✭


    Thinking of setting up a consultancy company and just wondering what people think is the best way to ensure payment. I.e. what's the stop the business I work with listening to what I have to say and then denying that I gave them any help at all?


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    #2
    ontour2
    Registered Users Posts: 133 ✭✭ontour2


    No guarantees that you can get a customer to pay, you need to research your customers before engaging.

    Best way to ensure everyone is clear on what should be paid and when is to have a clear contract that specifies what will be done and when it should be paid for. Having a process of sign off on smaller deliverables is important to checkpoint their satisfactions with the work.


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    #3
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    ontour2 is dead on. You need to make sure they can actually pay by getting references and doing a credit check.
    If you do not have a formal contract or written terms of engagement, at the very least you should write to them stating/confirming all that has been agreed, Work to be done, timescales, payment terms etc.


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    #4
    Gloomtastic!
    Registered Users Posts: 8,490 ✭✭✭Gloomtastic!


    Remember, once you have left the premises, clients can be very remiss in sending the final payment.

    Get a deposit of at least 20% before you start the job. Always deliver what the client wants plus some.

    Be very wary of charging on a 'percentage of savings' basis. They can be very difficult to ascertain.


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