Cleared Balance

[DunmaglasPhoto]

Can anyone tell me how long sales take to be reflected in the cleared balance. I've had several sales in October and November however only sales made prior to 1st October are reflected in the cleared balance at present and not the full balance carried forward at the start of this month.

[spacecadet]

Most sales clear in 45 days- in my experience, exactly 45 days.

So only sales up to about October 15th. would clear in time to be paid in December.

Distributor sales often take longer.

[dov makabaw]

Agreed. Newspapers tend to take longer.

 

.dov

[Mike]

Just like when you license directly to buyers, it varies greatly how fast (or slow) they will pay. I have clients that will pay within ten days of getting the invoice while others drag their feet up to 45 days. If it is a client I have worked with a lot in the past and I know they take more than 30 days to pay it isn't a big deal but with new clients and clients that normally pay faster, anything going on more than 30 days after the invoice date gets a reminder invoice with an added late fee for slow payment. That generally speeds up the payment next time they use one of my images. Granted, it is a heck of a lot easier for me to keep track of the maybe 40 or so publishers I work with directly and their payment habits compared to what Alamy deals with so that things take a little longer when an image is licensed through an agency compared to directly to the publisher is to be expected.

[Niels Quist]

deleted

[spacecadet]

OP, you can't add a 'late fee' as such in the UK but if it's in your terms of business you can add statutory interest.