Re: Thanks to Respondents: Payment Delay in 1099 Employment Contract

Subject: Re: Thanks to Respondents: Payment Delay in 1099 Employment Contract
From: "Michael L. Wyland" <michael -at- sumptionandwyland -dot- com>
To: techwr-l -at- lists -dot- techwr-l -dot- com
Date: Wed, 20 Apr 2011 14:38:18 -0500


Thanks for the follow-up.

A colleague asked recently about a trend he's beginning to see in his consulting practice - contracts written with 60-day payment terms rather than the traditional 30-day or shorter terms.

Interesting trend in an environment with increasingly automated payment systems and historically low interest rates for operating capital. Of course, many businesses with excellent credit are seeing difficulties in obtaining or increasing their lines of credit, and uncertain business cycles increase the potential for delays in receiving payments.

Those of us who are independent contractors need to accommodate these trends into our contracting and business management practices.

Michael L. Wyland
Sumption & Wyland
818 South Hawthorne Avenue
Sioux Falls, SD 57104-4537
(605) 336-0244
(605) 336-0275 (FAX)
(888) 4-SUMPTION (toll-free)
michael -at- sumptionandwyland -dot- com

Since 1990
Strategic Planning * Executive Coaching * Training & Facilitation

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