TBOS Freedom

TBOS Freedom is a short-term funding and administration solution for any size or type of recruitment business placing one contractor, twenty contractors or more. 

TBOS Freedom has been specifically designed for single recruiters and existing recruitment agencies placing a number of UK and International contract placements, with available funding for over 170 countries within 15 different currencies.

This flexible and cost-effective back-office plan covers unlimited credit checks, client & candidate contracts management, timesheet management, invoicing (UK & International), contractor payroll, invoice finance, credit insurance, management of contractor payments, credit control and self-bill management when the agency’s client makes payment.

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Click below to see how the TBOS Freedom plan works 

The first part of the process is a credit check on your client that you have offered a contract placement too.

Please note all Freedom plan clients receive unlimited credit checks on contract clients.unlimited credit checks

All credit checks are completed through our credit insurers to ensure all future invoices are fully credit insured. This is in case the clients fail to pay after 120 days.

Credit checks on UK clients can be approved within 15 minutes, however international clients may take longer depending on the size of the business and the country of origin.

It is recommended that your client is made aware of TBOS’s involvement to ensure they carry out their own due diligence on behalf of their own company.

The agency can go ahead with the contract placement once the credit check has been approved. All details of the contract placement will be sent to the TBOS team via a new starter form. The TBOS team will then use this information to prepare the contracts for the client, recruitment agency and candidate.

The client contracts are three-way contracts between the client, the recruitment agency and TBOS as the service provider.

In the client contract the recruitment agency still retains ownership and responsibility of the client, candidate and placement, with TBOS responsible for the invoicing and credit control of the recruitment services detailed in the contract. The contracts also cover Agency Workers Regulations and are fully compliant with international contract placements.management of contracts

The candidate contracts are also three-way contracts between the candidate and the recruitment agency, with TBOS listed as the service provider. (The candidates Limited/Umbrella Company may also be listed if applicable).

The candidate contract will still show that the agency retains ownership and responsibility for the client, candidate and placement, with TBOS responsible for receiving invoices and funding for issuing payment to the contractors within payment terms.

All contracts are IR35 compliant and cover the Opt-Out legislation (if applicable). They will also display the TBOS logo and the recruitment agency’s logo to help retain the agency’s identity within the recruitment process.

For PAYE candidates TBOS will require a starter checklist form or a P45 along with a copy of ID (passport or driver’s licence) and a copy of Professional Indemnity Insurance(If applicable). For Limited/Umbrella Company candidates, TBOS will require a copy of the Certificate of Incorporation, VAT Certificate (if applicable) and a copy of Professional Indemnity Insurance (if applicable).

Once the agency has reviewed and approved the contracts they are sent out for a signature using our e-signature portal. e signature confirmation

The e-signature portal ensures that the contracts are signed electronically online. These record the name, date and time of the person signing the contracts. This monitors the progress of contract process and delivers instant confirmation when contracts have been signed.

When all signatures have been collected the candidate is then eligible to go on site.

Once the candidate has completed their first week/month at their placement they will need to send in a signed timesheet to the TBOS office either by email or by fax.  This timesheet is checked to ensure it is completed correctly and has the correct authorised signature.timesheet management

TBOS are also able to work with candidates and clients that may have an online timesheet portal or another bespoke system for recording working hours. We will ensure this process is correctly communicated to ensure the timesheet process runs as smoothly as possible.

Once the timesheet has been checked and verified, an invoice is raised by the TBOS team and then sent to the client. This process is carried out the same day the timesheet arrives. All invoices are sent on TBOS headed paper to ensure full compliance with contracts, credit insurance and invoice finance.

The TBOS process team raises invoices every day and are flexible to each unique agency’s timesheet deadlines. This ensures invoices are processed and candidates are paid within payment terms.

If the candidate is being paid PAYE then TBOS will process the candidate as a TBOS employee through our PAYE scheme and deduct any tax or National Insurance required.  TBOS will provide a payslip to the candidate and ensure that the PAYE payment is processed to the HMRC each month.payment to contractor

If the candidate is being paid through a limited/umbrella company, an invoice will be addressed to TBOS which will then be processed, with payment delivered to the limited/umbrella company’s bank account.

TBOS are able to make payments every day, this means the agency can choose the payment terms that suit their business needs and are not restricted by enforced deadlines.

TBOS understands the importance of collecting payments from agency clients. Our expert credit control and debt management team are proactive in their methods for collecting debt and are instructed to verify invoices within 7 days of them being sent to clients. This confirms a receipt of invoice and deters any invoice errors before an invoice is due to be paid. 

Additionally, our team of credit controllers will liaise with the clients to ensure all invoices are paid within payment terms. If there is any delay in payment or invoices go overdue, the agencies are immediately notified so they are aware and can make a decision on how they would like to proceed further.

Please note our specialist credit control team are professionally trained in all matters of credit control and understand the importance of the building relationships with client internal accounts teams to ensure all invoices are paid correctly and on time to avoid any late payments. 

Once the client has made payment for the invoice raised, TBOS will produce a self-bill invoice from the agency to TBOS showing the profit generated minus the administration and funding fees.

TBOS will send this invoice to the agency and distribute the profit element on a next day transfer to the agency’s bank account.

  • More Time to Focus on Recruiting and Growing Your Business

  • Improved Cash Flow and Greater Profitability

  • Highly Experienced Back Office and Accounts Team

  • Reduced Expenditure on Staff, Technology and Office Costs

  • Solutions That Grow with Your Agency’s Volumes and Plans