Payment timing

jchan0806

jchan0806

Active member
I'm starting to do freelance videography. I'm offering work for hire services to make videos for businesses or anyone that wants to hire me. This includes shooting and editing a short 3-5 minute video.

When should I collect payment from a client? What is the common practice (i.e. wedding videography)? Should I collect half upfront to start the job and the other half upon completion of the project?
 
I do 50% down and the balance on completion if a project is 30 days or less. For longer projects its 50% down, 25% at the midpoint and the balance on completion. In both cases they get an invoice the day the work is finished showing balance is due and with terms of 2% per month on invoices over 30 days. When the physical product is delivered they also sign an acceptance document.
 
Agreed with the above. If I've worked with them before (comes up a lot with concerts) I might set it up different and let them pay after if it's easier, I'm not picky when I think I can trust them. I usually have a small down payment, less than 50%. It's really up to you.
 
I'm with Craig, I also have an acceptance document. I do 50% upfront and 50% at completion but that is non-negotiable. I need that 50% upfront, I am not a videographer, not some dude with a camera and an iMac, it's a production company, I hire people and have expenses, I need that 50% upfront to continue operations.
 
If you go for down payment, never negotiate. I do 50% down, the balance is where i can be nice, but 50% is 50% down.

Negotiating comes later with regulars and a name for yourself.

My 2c
 
It just means they collect intrest on your money for a month before writing you a check.
Most companies will start the billing process at net 30, not get you the check on day 30. I call it net 40.
and then of course the bank likes to collect intrest on your money for a week. lol
I guess we are not suppose to realize checking funds is a realtime transaction now.
 
Same as Craig. I may negotiate the price, but never the payment structure. If they can't put up 50% then you're not going to get paid.

If it's a small job, then 100% prepayment.
 
It takes just a mnute to see if they are there.
Hell most of my funds come in 4 or 5 figure increments from Anheuser-Busch. I'm pretty sure it can be assumed they have 12 grand in the bank. lol
They always mess with me and I usually have to tell them I have to cancel all of my accounts so I can go get paid before they'll deposit it in real time.
There is not much I can do about how big companies pay. For A-B, that is net 90ish. There is something I can do about my bank reeming me. I just say no thank you.
 
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