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Deposit for large projects?
Thread poster: Continental Translations

Continental Translations
Local time: 14:39
English to Albanian
+ ...
Aug 20, 2004

I would be interested to know whethe people actually ask for deposits for large projects? If so, how large does the word count have to be?

Regards


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Ralf Lemster  Identity Verified
Germany
Local time: 14:39
English to German
+ ...
Competitive position vs. risk exposure Aug 20, 2004

Hi "Continental",
I rarely ask for a down payment, but that's predominantly due to the fact that I have known most of my clients for quite some time.

With new clients, however, I generally invoice 40% upon acceptance of my offer. Whether this is acceptable to your client depends on your competitive position - whether working for an unknown client without deposit depends on your tolerance for risk.

HTH, Ralf


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Derek Gill Franßen  Identity Verified
Germany
Local time: 14:39
German to English
+ ...
Vorschuss Aug 20, 2004

Ralf Lemster wrote: I rarely ask for a down payment, but that\'s predominantly due to the fact that I have known most of my clients for quite some time.


This is how I do and see it too.

...working for an unknown client without deposit depends on your tolerance for risk.


It only happens once (or maybe twice) before one learns...


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Mónica Machado
United Kingdom
Local time: 13:39
English to Portuguese
+ ...
test client first Aug 22, 2004

Hi,

I agree with Ralf. Also, never accept a large job from a unknown client if I am not able to get some references on "him".

I think down payment is not a very common practice among translators but I admit it is a good one if both parties agree on it.

Best regards,
Mónica Machado


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Narasimhan Raghavan  Identity Verified
Local time: 19:09
English to Tamil
+ ...
Try getting payments as and when the project proceeds Aug 22, 2004

In your place I would proceed as follows. Let us say some 10 files are there. Try to get some down payment, say 25% of the estimated cost. Then do the first file and send it along with the invoice. In that invoice, you can give a prorata offsetting of your advance against the invoice amount. Make it clear that sending further translations depends on your getting the invoice paid. In the meantime continue the translation of the second file and keep ready. As soon as the the first invoice is paid, send the second invoice allowing another prorata offsetting of the advance against the second invoice amount and so on. One thing is clear. Never deliver the next lot before getting the pending invoice paid.

If it is a single big file, try invoicing every 10,000 words with the same procedure.

Regards,
N.Raghavan


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