Anyone tried working against a retainer? Chasing down payments has become a part-time job on its own. An account manager at the place I'm freelancing for accidentally revealed the reason they always pay late is because they invest the money they're supposed to be paying.
I do project-based set rates for them and now I'm including late fees in my quotes. They're not happy about it but they agreed

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Most small agencies unfortunately operate this way. They take the money the client paid and then park it in a savings account for up to 3 months to accrue interest. It’s complete BS that hurts the freelancer/vendor but they don’t care.

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Yes. It’s a loophole. Unfortunately there’s nothing technically illegal about it. Your personal contract should stipulate that if you do not get paid in full w/in 30 days after completion then they ll have to pay an accruing late fee for every week payment is late

Of course they’ll do what they want since they assume you’ll never hire a lawyer to fight them

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That’s normal for retainer small agency clients, charge the late fees, I give a week or two of grace for a gentle reminder to keep long time retainers (year plus) but make sure you get paid you don’t know what their finances look like and if the agency is struggling.

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