|Sometimes, it's all Greek. Athens, 2013.|
- Since we get a lot of referral business, we usually know a little something about companies that approach us looking for price quotes. We feel quite comfortable extending credit to established companies, especially if they are in our geographic areas (Vegas and Vienna, Austria).
- For translations requested by private parties, we ask for payment ahead of time in full, as we would have no way of tracking down ootential non-payers. No one has ever objected to this, as it's quite common to pre-pay for some services, even some as small as drycleaning.
- For interpreting assignments for private parties (for instance, those who retain Judy to interpret for civil matters in the courts), we usually ask for a deposit. Depending on our gut feeling, that deposit ranges from 50%-100%. If someone refuses to pay a deposit, we respect that decision, but take it as a bad sign and decline the project.
- Of course, there are many, many gray areas, and we don't have all the answers and don't always make the right decisions. Sometimes you just have no idea if a client will pay or won't. However, we've been in business many years and have generally been quite successful with this approach.
What about you, dear colleague? Do you have any specific tips to share or general comments on this topic? We would love to hear them.