Join Date: Sep 2012
Thanked 255 Times in 114 Posts
Business is a 2 way street
For those of you who are interested, remember that business is a 2 way street. Every company expects us to sign their contracts that are tilted in their favor. But what about the contractor, we are the ones that are actually extending credit to these companies.
The other day, I received a call about doing work for a "national", after seeing their prices they are not a national but a regional. Anyway I replied back that we will review the documents but in the mean time I attached the following in a PDF for them to review and sign.
Guess what, I received a call that they do not sign anything like this because they are giving the work and not the other way around. So I tried to explain that yes they are giving the work which means I am giving them credit. Oh well from now on we are using this for everybody that contacts us, if they don't want o sign it then there is no work.
It is understood that the below named company is interested in securing our services and having us extend credit to them for said services. As a condition of performing any work and extending credit for our clients, the following items must be adhered to. By signing and dating the following items it is understood that any violation of the terms may result in legal action being taken. Any legal action taken will be conducted in New Jersey.
1. All invoices MUST be paid no more than 45 days after services are completed and payment MUST be received no later than 50 days after services are performed. In the event that payment is not received in the above manner, then ALL outstanding invoices will be due and payable IMMEDIATLEY.
2. Once a work order is received and the original amount is listed, any attempt by the client to reduce the invoice amount WILL NOT BE TOLERATED. In the event that the client does attempt to change the pricing after the work is completed will result in the client being put on a hold status and no other work will be completed until the dispute is resolved. If the client continues to not adhere to the original quote, a lien may be placed on the property where the work was performed.
3. In the event that payment is not received per item 1 above, all client’s work orders will be put on a hold status.
4. As we are extending credit to you, it is understood that any work that is not paid for according to item number 1 may result in a lien being placed on the property where the work was performed.
5. The client will be responsible for all legal fees of our company in the event that we must take action to obtain payment.