{"id":528,"date":"2021-12-22T12:42:52","date_gmt":"2021-12-22T12:42:52","guid":{"rendered":"https:\/\/xn--kntjmestari-l8aacb.fi\/km\/main\/chapter-7-profitability-is-the-key\/advance-payment\/"},"modified":"2022-02-16T15:53:32","modified_gmt":"2022-02-16T15:53:32","slug":"advance-payment","status":"publish","type":"page","link":"https:\/\/xn--kntjmestari-l8aacb.fi\/km\/en\/main\/chapter-7-profitability-is-the-key\/advance-payment\/","title":{"rendered":"ADVANCE PAYMENT"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.22&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.14.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.14.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_post_title meta=&#8221;off&#8221; featured_image=&#8221;off&#8221; _builder_version=&#8221;4.14.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_2,1_2&#8243; _builder_version=&#8221;3.25&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; custom_padding=&#8221;27px|||||&#8221;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.14.2&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; custom_margin=&#8221;|-426px||||&#8221; custom_padding=&#8221;||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]Sometimes the client\u2019s budget period is coming to an end but the text is not ready to be translated. For example, the financing period for an EU project or the grant period for a researcher could be about to end, but the book or the final report is yet to be finished. The project grant has to be spent by a specific date.<\/p>\n<p>&nbsp;<\/p>\n<p>In such cases one can use front-loaded invoicing, meaning that the invoice can be sent before the commission has even been started. In these cases, it is essential to agree upon the due date by which the source text must be delivered to the translator and the deadline of the translation. It is also important to agree on how to proceed if there are budget overruns or deficits \u2013 who will pay for the difference in price and whether the possible deficit is paid back to the client or accepted as a loss (and kept by the translator).<\/p>\n<p>&nbsp;<\/p>\n<p>Keep in mind that when the prepaid commission arrives for translation, you probably \u2013 and hopefully \u2013 have other ongoing commissions, even if you received the payment a while ago. It is a good idea to keep reminding the client about the agreed delivery date in due time, and to make sure that the source material will arrive on said date.<\/p>\n<p>&nbsp;<\/p>\n<p>Invoicing upfront is easiest with regular clients that you know well since you both know the routines. An inquiry from a completely new client should be met with professional courtesy, and healthy caution \u2013 is the commission a sincere offer or is it too good to be true?<\/p>\n<p>&nbsp;<\/p>\n<p>It is a good idea to use advance payment with very large projects and with new clients who you do not know yet, and checking the client\u2019s credit score is always recommended. In these cases, you may also choose to use deferred payment, which means the client pays an installment after each part of the project is delivered.[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sometimes the client\u2019s budget period is coming to an end but the text is not ready to be translated. For example, the financing period for an EU project or the grant period for a researcher could be about to end, but the book or the final report is yet to be finished. The project grant [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":525,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-528","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ADVANCE PAYMENT - The Translator&#039;s Guide to the Industry<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/xn--kntjmestari-l8aacb.fi\/km\/en\/main\/chapter-7-profitability-is-the-key\/advance-payment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADVANCE PAYMENT - The Translator&#039;s Guide to the Industry\" \/>\n<meta property=\"og:description\" content=\"Sometimes the client\u2019s budget period is coming to an end but the text is not ready to be translated. 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