I Just Put CN RAIL on COD....

[Dave Shepard]

A recent discussion on another site talked about General Motors paying net 180. I offer two options. You can pay when you pick up. Or you can pay in advance. 

[Bandmill Bandit]

I quote my rate 30 Percent higher at $130 per hour and still require an $800 deposit to move in for those large clients that have that stupid net 60 - 120 day policy around here and there are lots of oil field companies that like to do that. They whine alot but I dont even flinch. I just tell them that if they can find some one else to do the job to go for it. I don't need that kind of work or headache.  

[thecfarm]

The wonder check. Wonder if you will get a check.

[Percy]

WOW!!! Guess Im not alone on this ........

[Percy]

Recently cut for a private individual, his personal logs on his property in Lexington, NC. 120 miles from home. After cutting for three days and finished cutting 3 hours sooner than predicted even with him adding 2 more logs to the pile, I handed him the pre approved amount bill. First words from him was he needed my workman's comp. ins. paper work. Suddenly I was a " sub contractor" for his Bob Correll Electric Co. Told him I was a sole proprietor LLC , in NC with no employee, not required , just G.L. He stiffed me 15 percent and smiled the entire time. Not again with him.

You can bet dollars to doughnuts that he is claiming your services as a tax exemption on his business. But the lumber is personal....Let IRS know...and let him know you are letting IRS know.... :D

[DMcCoy]

Percy, great observation.  Oh boy, he will be very sorry.... :D :D :D

[WV Sawmiller]

   You might even collect a whistleblower fee from the IRS to help make up for the amount he shorted you. Good luck.

   I'd probably have gotten my fee in satisfaction otherwise but this is likely a much better option.

[Bandmill Bandit]

CCCLLC
I had a guy try that on me 3 summers ago only he had brought 2 days worth of logs to my place.
I closed the gates and locked em with his truck and trailer in side the yard. He was some PO ED!

I said Ill take you to the bank and you will get me cash. He said he couldn't do that. I said then you better call some body to come get you cause that truck isn't moving till I am paid. He went to the truck and pulled out a small satchel and paid me on the spot. Still tried to get me to discount the job 15 %. I just laughed.

I put the money in my pocket and as I was doing that I told him that if I ever felt the need to saw for him again I would call him. That was almost 4 years ago.  

[Raider Bill]

Insurance companies are 90% of my business. Some pay within a week of receiving my invoice some not so much.
I've been stiffed only a couple times with AIG owing me well over $60K and filing bankruptcy when the economy went bust. Wanna talk about putting a hurt on someone.... Prior to that we got steady checks from them then bam! nothing.

When I first started out it was hard until I built up a reserve to pay my guys on time but we got through it.

Now I only do work for those Companies that have a good track record in paying.
Private work is paid before we start.

[thinwater]

I was in the OEM firearms parts manfacturing business for many years. I made parts for the biggest names in the world as well as mom and pop shops. 99% of the time they abused the net 30 or what ever the deal was. I had to put many on COD and fired a more than a few for  getting to far behind and playing games with my money. 

I guess it is the same in any industry.