I'm about to do a job for Lead Dog Marketing Group in NYC. I haven't worked for them before and they're saying they pay in 60 days. Does anyone have any experience with them? Do they pay as promised? tx
60 DAYS!? For doing what? Man, that is worse than normal corporate 30 day.
No no no...in production it is either NET 15...meaning 15 days. or you get half up front, and the other half when done and BEFORE you deliver...and NET 15. or Half up front, 25% when complete, and 25% AFTER you deliver...all Net 15.
Net 60...No way would I stand for that. How are you supposed to survive for TWO MONTHS without pay?
About four of our clients pay on net 60 even though our terms our net 30. They are agency clients and that's how it works. On some larger productions we get a set amount up front, usually enough to cover our outside costs for the shoot. But it is common for an agency to tell us that their terms are paying on net 60 and you either comply or walk from the job. Since we are not fools, and since we know they pay, albeit on their terms, we play along.
It's not like we only have one job in the cue at a time so most of the time it does not affect cash flow.
Don't know about the company you are asking about but I'm saying that net 60 is not unusual...for a first time client I might ask for something up front to cover some of your time and cost.
Tilt Media Inc.
Video Production and Post
I have a well known client that likes net 90 so they can collect intrest on all of their vendor's money. It's pretty normal and if they are telling up front net 60, I'd take that as a positive... much better than the ones who state net 30 then pay a month late.
The norm of a new client is to get half down. If that's a deal breaker and you are fine with it, run. If yousense that's a mistake and do trust em, man a big part of this business is going with your heart. I have found it's very rewarding to buy faith in humanity. Give the benefit of the doubt. I bet you'll be glad.