Given the recent demise of 2e2 what lessons can you ‘Mr or Mrs Contractor’ learn to protect yourself & your revenue?
…the thoughts of Chairman Mills.
1. Understand your contract – check the wording of contract with the direct client or agency contract. What does it say about what would happen re: payment in the event of administration/insolvency?
2. Credit check the client and/or agency.
3. Negotiate more frequent invoicing and quicker payment terms.
4. Look at some form of invoice payment protection insurance.
5. Keep your dukes up and protect yourself at all times.