A couple of thoughts...
Would the agreed payment meet your costs and give you some profit?
Would doing this work mean you are missing out on other work?
If you don't loose anything then extended payment terms (not a loan) are
just a risky long term investment.
Another couple of ideas...
You
Exactly what I do g.
John Weller
01380 723235
07976 393631
-Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED] Behalf Of john harvey
Sent: 30 January 2007 00:23
To: [EMAIL PROTECTED]
Subject: RE: [NF] Extending credit to clients?
I got one of those. He
What? Trade insolvent? ;)
--
Michael Hawksworth
Visual Fox Solutions
[EMAIL PROTECTED]
www.foxpro.co.uk
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Ted Roche wrote:
I had a client I've worked with before approach me for a follow-on
project. They're strapped for cash at the moment, but had been
perfect with payments on time in previous project that lasted 10
months.
They'd like to defer some of the costs of development for a period,
One-third = cash payable monthly NET 30
Two-thirds = convertible, unsecured 90-day note at Prime + 3%
Each 90 days, client will pay interest due and roll note over for
another 90 days or offer the choice of the following options
- payment in full of all principal and interest due
-
Whil Hentzen (Pro*) wrote:
One-third = cash payable monthly NET 30
Two-thirds = convertible, unsecured 90-day note at Prime + 3%
Each 90 days, client will pay interest due and roll note over for
another 90 days or offer the choice of the following options
- payment in full of all principal
On Jan 30, 2007, at 10:02 AM, MB Software Solutions wrote:
(And Ted isn't in the biz THAT long, is he? I figured him for late
40s
in age?? If that's the case, boy, he started early! g)
Ted is 73 years old.
-- Ed Leafe
-- http://leafe.com
-- http://dabodev.com
Ed Leafe wrote:
Ted is 73 years old.
Where's the smiley? I've seen some of the photos and he doesn't look
that old.
Peter
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On Jan 30, 2007, at 10:35 AM, Peter Cushing wrote:
Ted is 73 years old.
Where's the smiley? I've seen some of the photos and he doesn't look
that old.
OK, I was being nice. He's really 82.
-- Ed Leafe
-- http://leafe.com
-- http://dabodev.com
(And Ted isn't in the biz THAT long, is he? I figured him for late 40s
in age?? If that's the case, boy, he started early! g)
I think Ted is in his 60s. Although he might be 70 by now. I'm not quite
sure. He's always been circumspect about his age, and a gentleman never
tells.
I swear I
Peter Cushing wrote:
Ed Leafe wrote:
Ted is 73 years old.
Where's the smiley?
Because one wasn't needed.
I've seen some of the photos and he doesn't look
that old.
I imagine you think those gals on p3 look like that naturally, too,
then, right? gdr
Ted _invented_ airbrushing,
Ed Leafe wrote:
On Jan 30, 2007, at 10:02 AM, MB Software Solutions wrote:
(And Ted isn't in the biz THAT long, is he? I figured him for late
40s
in age?? If that's the case, boy, he started early! g)
Ted is 73 years old.
I wouldn't extend him credit, then. He
Thanks all for your thoughtful responses.
On 1/30/07, Whil Hentzen (Pro*) [EMAIL PROTECTED] wrote:
So you're asking two questions... should you do this at all, and if so,
are the terms reasonable.
Yup.
Door #2 sounds like a very bad idea. Being a minority shareholder is the
worst of all
I had a client I've worked with before approach me for a follow-on
project. They're strapped for cash at the moment, but had been perfect
with payments on time in previous project that lasted 10 months.
They'd like to defer some of the costs of development for a period,
which I can sympathize
I extend credit to one client - but not intentionally!!! They're b*( awful
payers but always pay up in the end; they have to as they rely on me too
much.
My immediate reaction would be to avoid it like the plague. If they need a
loan then get one from the bank.
John Weller
01380 723235
07976
of the grief and expense of fending off an assault to begin with.
Good luck!
Gil
-Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED] Behalf Of Ted Roche
Sent: Monday, January 29, 2007 4:06 PM
To: [EMAIL PROTECTED]
Subject: [NF] Extending credit to clients?
I had
-Original Message-
From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED] Behalf Of John Weller
Sent: Monday, January 29, 2007 4:19 PM
To: [EMAIL PROTECTED]
Subject: RE: [NF] Extending credit to clients?
I extend credit to one client - but not intentionally!!! They're
b*( awful
payers
I see no problem if you feel that you can trust this client.
My 2nd to last major client had me extending him credit (to the tune of
over $11,500 in 6 weeks) by crying cash flow problems but didn't bother
to tell me he wasn't going to pay... That's not someone you want to
extend any more
Ted Roche wrote:
I had a client I've worked with before approach me for a follow-on
project. They're strapped for cash at the moment, but had been perfect
with payments on time in previous project that lasted 10 months.
They'd like to defer some of the costs of development for a period,
which
Ted,
Can your client pay you by credit card? Plastic is EASY to get. In the
past, I have paid contractors by credit card in a cash flow crunch. I
would have no problems expecting the same treatment from my clients. An
alternative to credit cards might be to lease them your services (or the
Ted,
Can your client pay you by credit card? Plastic is EASY to get. In the
past, I have paid contractors by credit card in a cash flow crunch. I
would have no problems expecting the same treatment from my clients. An
alternative to credit cards might be to lease them your services (or the
3:19 PM
To: profox@leafe.com
Subject: RE: [NF] Extending credit to clients?
I extend credit to one client - but not intentionally!!! They're b*( awful
payers but always pay up in the end; they have to as they rely on me too
much.
My immediate reaction would be to avoid it like the plague
Wow, this is a tough call. I would at least get paid
weekly what you can't afford to eat. In my case it
would be 50%.
So if my rate is $90.00, I would want $45.00 an hour
at the end of each week, that is if I could afford to
do it.
We've all worked 100% blood, sweat and tears on a
project,
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