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Honestly, most companies don't pay on time / at least didn't used to until net30 became the law in NYC.
Make sure to submit you invoices promptly, since the countdown clock only begins upon receipt of the invoice. Send a polite follow-up at 2 weeks checking if they need anything else from you to begin processing, at 30 days to confirm its on the way, and then every week afterward to annoy them into compliance.
If they're late, you have two options - preventative and reactive. I usually work some kind of scaling late-payment fee/penalty that increases with the amount of lateness/delinquency into my contracts. Its mere existence sometimes encourages prioritizing your payment over other freelancers/contractors, and it gives you a lever to generate some good will because you can always choose to waive the late penalty as a "gesture" which sometimes makes people like you and want to work with you more.
The reactive option is to take them to court (small claims for up to around $10k-15k and actual court with lawyers for anything bigger) but recognize that this is a bridge-burner. Nobody wants to work with someone who literally took them to court over payment, so be sure you're ready to take that step and understand they'll talk shit about you for it (in which case you should rightfully contribute to their reputation as someone who doesn't pay freelancers).
Another option, both preventative and reactive, is to have a clause in your contractor's agreement that if you don't get paid, you own the work. If they can't legally use, or prevent you from finding some other use for what they paid you to make, then you have all the power.
Not really possible unless you can somehow convince them to agree to an amendment which is a whole other conversation.
Barring that, your best best is to sign a new agreement upon expiration of this one. Hopefully it's time-limited. If not, I guess you can try to make a case for a new agreement when a new project kicks off, but, again, that's a whole other thing.
Subject Expert
99% of my clients pay on time. I always make sure we have an upfront conversation about payment terms so we’re all on the same page. It’s also within the contract we both sign.
communication is key.
Yes to all the above, I was at a company that held a de facto net 60 day rule for all vendors (based in IL) and it was pulling teeth to push payment through net 30 but I diligently did so for my vendors because they are my friends.
But there were times of course I got too busy to check back on bureaucracy every single day, or to resend the counter signed SOW with proof AP needed to process in under 30 days etc.
Sometimes a bloviated top policy is the problem despite the best efforts...
Make sure to read the back (disclaimer) of PO in case this was issued. This will tell you their terms. Some places will not release payment until they have received payment from client themselves.
Subject Expert
eek.. doesn’t sound like a nice contract to sign.
I had one agency that would take 3-4 months to pay each invoice. I’d have to send around 6-10 emails reminding them. I did get paid but it was so much pain I decided to sever ties with that agency.
I would say like 10% of the time clients pay late, but usually it takes one email and they process right away.
We Work on the other hand, it took about 10 emails and I wound up filing a complaint with freelance isn't free in NY and then they finally paid.