ESM Inbound's standard payment terms are that payment is due in full before work can begin. Invoices are issued at the point an agreement is signed and are due on receipt.
We don't believe in small print, so we make sure our payment terms for a project or retainer are clearly indicated on the proposal you sign. Where appropriate, these terms will even be in bold text. Here is an example of a typical payment terms line in one of our proposals:
Your proposal will also link to our terms and conditions of service.
Standard payment terms
As standard, payment needs to be received in full before work can begin. This applies to:
- No-Risk Retainers
- Standard Retainers
- Projects below £10,000 (before VAT)
The invoice will be issued within one working day of the proposal being signed and will be due on receipt. If payment is not received before work is scheduled to begin, then we will discuss a new start date with you.
Projects above the £10,000 threshold
For projects above the £10,000 threshold, a milestones payment system can be arranged.
In this scenario, payment is due in full at the start of each milestone. Work cannot start on that milestone until payment is received in full.
Non-standard payment terms
ESM Inbound understands that not all companies are able to make payment before work can begin. In this scenario, we offer non-standard payment terms to our clients.
Net 30 or Net 60 payment
We can offer either Net 30 or Net 60 payment terms to our clients. In this scenario:
- The invoice is still issued at the time the project is signed but payment terms are set as Net 30 or Net 60
- An additional 10% charge is issued for each 30 day period (i.e. 10% for Net 30, 20% for Net 60)
- If payment is late, then all work will stop until payment is received in full.
Proof of payment
In a very limited number of cases, you can provide 'proof of payment' to show that a payment has been actioned but not yet received by ESM Inbound. This can be particularly useful for international payments or BACS payments.
Proof of payment can be:
- A screenshot from your bank's online banking platform showing a completed payment
- A note on your bank's letter-headed paper showing the date the payment was made
- A remittance advice showing the date the payment was made.
The following are not acceptable as proof of payment:
- An email from your finance team
- A purchase order
- A screenshot showing a request to make payment.
Clients on a retainer agreement may choose to pay by Direct Debit. In this scenario, there is no need to provide payment in full before work can start.
Your Direct Debit mandate will need to have been completed and accepted before work can start.
You will be invoiced at the point of signing the proposal and we will charge your Direct Debit mandate under the Direct Debit Guarantee.