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What happens if i join a new company before payment is triggered

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Goldy740
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What happens if i join a new company before payment is triggered

Post by Goldy740 » Thu, 09 Mar 2017 2:39 pm

I have setup my own recruitment business and am currently employed with a DP/LOC (my EP was rejected twice so a local friend agreed to be on the board).

When i successfully place a candidate i do not send the invoice until the day the candidate starts, that can be one or two months later depending on candidates notice period.

Currently i am considering offers to join more established businesses. If i were to accept an offer obviously i would have to quit with my current venture in order to apply for a company sponsored EP.

I could potentially have quite a bit of money owed to me in the future so how might i be able to receive payment given i no longer work for that entity?

Many thanks for any advice on the subject

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ecureilx
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Re: RE: What happens if i join a new company before payment is triggered

Post by ecureilx » Thu, 09 Mar 2017 4:28 pm

Goldy740 wrote:I have setup my own recruitment business and am currently employed with a DP/LOC (my EP was rejected twice so a local friend agreed to be on the board).

When i successfully place a candidate i do not send the invoice until the day the candidate starts, that can be one or two months later depending on candidates notice period.

Currently i am considering offers to join more established businesses. If i were to accept an offer obviously i would have to quit with my current venture in order to apply for a company sponsored EP.

I could potentially have quite a bit of money owed to me in the future so how might i be able to receive payment given i no longer work for that entity?

Many thanks for any advice on the subject

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Strong Eagle
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Re: What happens if i join a new company before payment is triggered

Post by Strong Eagle » Thu, 09 Mar 2017 9:58 pm

There are a lot of details here that require clarification before an answer can be provided.
Goldy740 wrote:I have setup my own recruitment business and am currently employed with a DP/LOC (my EP was rejected twice so a local friend agreed to be on the board).
So, a friend who is either a citizen or PR started up a company and hired you on a LOC, is that correct? Was the company a sole proprietorship or a private limited?
When i successfully place a candidate i do not send the invoice until the day the candidate starts, that can be one or two months later depending on candidates notice period.
What/who is the entity doing the invoicing?
Currently i am considering offers to join more established businesses. If i were to accept an offer obviously i would have to quit with my current venture in order to apply for a company sponsored EP.

I could potentially have quite a bit of money owed to me in the future so how might i be able to receive payment given i no longer work for that entity?

Many thanks for any advice on the subject
What is the nature of your employment contract with the company you have your LOC with? Your employment contract would need to state that you have a claim and right to future payments even if you are terminated.

I don't get it, though... if a friend set this thing up and the entity still exists, what would be the issue of your friend simply taking the money in and sending it to you?

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