Posted by redd on 7/21/10 9:29pm
Msg #345898

30 days

Why are companies paying 30 to 45 days after closing? What could be the reasoning for that?

Reply by LMS on 7/21/10 10:34pm
Msg #345909

A lot of it is they don't have the capitol to pay until they're paid. A lot of title companies will pay signing companies once a month, so they wait to pay us til they're paid. Sometimes, it's just easier "for them" to pay once a month, all at once instead of issuing checks daily or weekly. Or a combination of both. Of course we like it better when they pay immediately....

Reply by Linda Juenger on 7/22/10 1:23am
Msg #345922

If I were a company, I would probably pay like I used to pay my employees when I had my gas station. Anything done from the 1st - 15th of month is paid on the 18th. Anything from 16th- last day is paid on the 3rd day of the next month. Its such a simple system. Pay twice a month in 1 check. Everyone would be very happy with this system. They knew what would go out and we knew what would be coming in. But, no that's too easy.

Reply by James Dawson on 7/22/10 10:33am
Msg #345945

I've also noticed some SS confirm 'NET 30" are starting to pay much later. When I've called to inquire about what happened to net 30, I'm being told "Oh payroll is backed up and you'll be paid next week". They're telling me this on Monday of this week.

Reply by desktopfull on 7/22/10 10:44am
Msg #345946

Because they can, hiring entities set the rules u accept/not n/m