Avoid this trap at all costs aka “Never Net 30” !
I’ve been a contractor for a while. And when you’ve been doing this as long as I have you tend to develop some hard and fast rules for yourself. You don’t compromise on your rate. You don’t compromise on your location preference. Work to learn, don’t work to earn. And as many times as I’ve cautioned my friends about payment terms — the moment you break you own rules is the moment you get burned. So, please heed this advice: if a contracting agency aka “pimp” calls asking you to accept net 30 terms with once monthly billing, hang up the phone. I’ve seen this happening a bit more often in recent months.
I’ve had a couple of shops call asking about this, and – I admit, last year against my best judgement, I accepted one.
It. Did. Not. Turn. Out. Well.
Now I’m calling this the “Net 30 trap” …