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rbryanhines
22 Posts |
 Posted - 04/10/2004 : 21:15:46
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This post is for adjusters. Please don't respond if you are strictly a contractor.
I've been doing some work for a major carrier for the past few years. It appears they have become slow to pay service invoices. Which leads to my question. How long is long enough to give your vendor to collect your invoices? I'm just looking for a consensus from fellow adjusters. Also, if the adjuster turns in a quality file and the vendor cannot collect on the file, should the vendor still pay the adjuster? I have my own opinion but wanted the thoughts of others.
Thanks
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Gale
USA
231 Posts |
Posted - 04/10/2004 : 21:56:37
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| I agree your first question is subjective in nature but it seems like your last question should be a black and white agreement before you start so you know the answer is yes or no. In a way it turns subjective because you use the word “quality”. Do not most vendors only pay for a file that they get paid on first? The adjuster’s position in the food chain is not idea. The vendor has to trust the carrier and the adjuster has to trust the vendor as to if his work product was or was not used to settle a claim. |
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katadj
USA
315 Posts |
Posted - 04/10/2004 : 23:05:45
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IMHO, any file that has not been processed for payment within 30 days after submission is overdue and you should collect interest on the money.
Item two; you should be paid from the vendor for the work you do, regardless of their ability to collect on the file from the carrier. The percentage they make on your work is what allows them to "front" your invoice.
Almost all of the larger IA Companies do this. The smaller ones, should advise you of their terms and conditions, and make allowances for a longer term of payment in the percentage they pay. You also should be advised of ALL of the terms and conditions prior to accepting employment"
i.e. " Know Before You Go"
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BBBarley
Canada
2 Posts |
Posted - 04/14/2004 : 23:24:43
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| I am working on an item now where the carrier is now about 88 days (give or take) in making payment on services. |
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JimF
USA
1014 Posts |
Posted - 04/14/2004 : 23:26:10
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| Have you ever heard of "Western Justice"? |
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katadj
USA
315 Posts |
Posted - 04/15/2004 : 00:01:13
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You may want to issue an interim billing to a certain date say 30 days. Then advise them that any file over 30 days will be billed and must be paid. Including any additional billing in the same manner, and paid in order to continue.
Western Justice always works, when there are no other options, it works that way in the Northeast also.
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BBBarley
Canada
2 Posts |
Posted - 04/15/2004 : 01:23:28
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| I am confused!...."western" what? new to me..... |
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danguyer
USA
26 Posts |
Posted - 04/15/2004 : 06:33:35
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| If you have a file for 88 days, I would suggest you interim bill your work on that file ASAP. Any additional work can be billed with your final invoice. Personally, I only like to interim bill a file once because it can be confusing to your client if a file is continually being interim billed. You may have to send a service itemization so it is important to keep good notes on the work you have done on that particular file. |
Dan Guyer |
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KileAnderson
USA
875 Posts |
Posted - 04/15/2004 : 07:23:48
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| I might be wrong, but it doesn't sound like the 88 day file is still open. I interpreted the post to mean that it has been closed for 88 days but payment has not been recieved. Would BBBarley please clarify. |
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ChuckDeaton
USA
373 Posts |
Posted - 04/15/2004 : 09:03:53
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One of of the dangers of contract work is that the completed work will be judged on quality and rejected. Make a forthrite effort to collect then write it off as uncollectible, take it off your taxes and get on with life.
All businesses have bad debts. |
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danguyer
USA
26 Posts |
Posted - 04/15/2004 : 09:08:04
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| Sorry Kile, I interpreted that BBarley's file was still open. He states that he is "working an an item." Please clarify BBarley. |
Dan Guyer |
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katadj
USA
315 Posts |
Posted - 04/15/2004 : 10:43:38
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Explanation only:
NOT to be construed as fact.......................................
Western Justice comes in many forms, rope size, tree height, also in differing calibers. It is (was) a swift measure of compensation, or perhaps gratification.
It has not been used in several years to this writer's knowledge, but it is well known and respected. While it may have been employed in the past by many, there was one famous Judge, (Roy Bean), who used the practice on a regular basis. Little reference to present employment is noted.
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Slow or no pay!!!
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