How do you accept/require payments be made for commercial contracts? Weekly? Bi-weekly? Monthly? Quarterly? Annually and upfront?
How long of a contract should I aim for? Obviously an annual contract would be nice to aim for, but are there any downsides to an annual contract? Is there a term that is more appealing to the client than the other, such as semi-annual, quarterly or on a month to month basis?
I think a monthly contract would suit most clients. As for payment, in my experience, most businesses don't want the hassle of paying a weekly invoice. Monthly would probably be the best option.
You should set up a one year contract and be flexible. Shorter contract - higher price per month. Longer contract - provide a price reduction. Billing should be monthly and be net 15 IMO.
Monthly with Net30 terms is standard, however, we are seeing more and more large clients try to push for 60 days now. Most remit payment via check, but bank transfers are also quite common.
In terms of contract length, with month to month there is less resistance in our opinion. Many potential clients are hesitant to sign a long term contract with an as yet unproven contractor as many have been burned in the past.
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