All pieces of work between you as a buyer and any supplier are based on your terms and conditions, so the payment terms can be set in advance by you as between yourself and the supplier.
If you use our invoice aggregation service (for more details on this service, please click here), the invoice provided by Paid on a biweekly/monthly basis (as agreed) will be structured to allow for suppliers to be paid within your standard payment terms.
If you choose to pay each supplier invoice on an invoice-by-invoice basis, the supplier invoices will all include your standard payment terms.
Payments to suppliers that do pieces of work through the platform will all be routed through Paid, so all invoices created on behalf of a supplier will include the same Paid account details. This is because Paid takes an assignment of every invoice issued on behalf of a supplier, to cover Paid's right to any fees due from the supplier to Paid for their use of the platform and/or their use of the Paid 'instant payment' service.
Payment methods available will include:
- BACS payment to Paid's bank details
- Credit/debit card payments through Paid's online portal (these will be subject to a commercial credit card fee of 2.2%)