Friday Feature - Funding solutions for self billing client using RPO
This week Fund My Contractor was asked by an agency if we could help fund a placement where the client was using an RPO to facilitate the recruitment and payment processing. The issues the agency was having was that the contract was a pay-when-paid contract which was making it hard for them to get funding themselves.
Fund My Contractor conducted a credit check on both clients (the end client and the RPO) and both were strong enough to justify the credit insurance and the funding. Also the RPO insisted that the agency sign their contract and use their self-bill system. Due to the experience Fund My Contractor has with other RPO’s we were able to advise on how the contract would work, provide an addendum to the contract allowing Fund My Contractor to be involved and manage the self-bill process. This meant the agency could provide the contractors required by the client even though the client was using an RPO using Fund My Contractor.