When are my wages paid out? Frilans Finans’ terms and conditions for the payment of wages.

Frilans Finans makes three different assessments for the payment of wages: “Approved without non-payment records,” “Approved with non-payment records” or “Not Approved.” After you enter the details for an invoice, we will notify you by e-mail which assessment the invoice has received.

1. In the normal case, the invoice receives the credit assessment “Approved without non-payment records.” Five (5) business days after the invoice’s date of approval, we will pay your net pay (the amount you have paid out to your bank account after the statutory taxes have been deducted) directly to your bank account. Note that it may take 1-2 business days before the money is in your bank account and available to you.

End customers receive a 30-day payment terms calculated from the invoice’s date of approval. The conditions for that the work/invoice will be Approved without non-payment records are:

• – that the customer does not have a negative credit history (non-payment records).
• – that you do not have a negative credit history (non-payment records).
• – that the customer does not consist of yourself or another party where you have significant common interests.
• – that the day(s) worked is/are not more than 30 days prior.
• – that the customer is registered with the Swedish Companies Registration Office. You can check this yourself with the Companies Registration Office
• – that the receivable concerning the work you performed is not in dispute.

2. Specific cases in which the invoice has the credit assessment status “Approved with non-payment records.” In the situation where the customer is a private individual, or a company located abroad, or some of the criteria for the invoice to be given the status “Approved without non-payment records” can not be met, the invoice receives the credit assessment status “Approved with non-payment records.”

The wages are paid out as soon as the end customer has completed their payment to Frilans Finans, usually after 30-40 days. Note that the “Approved with non-payment records” is not something negative, it only means that Frilans Finans assesses the risk to be somewhat higher due to natural reasons such as that the customer is located abroad, which means that verifications and follow-ups are difficult to make.

3. Very special cases are “Not Approved.” If the customer is in insolvency, for example, that a notification of potential bankruptcy petition has been submitted to the Swedish Enforcement Authorities, or that its liabilities significantly exceed assets, Frilans Finans will reject the invoice in its entirety. Therefore no wages are paid out. You can always check in advance, by contacting Frilans Finans, if the billing for your work/your invoice will be “Approved without non-payment records,” “Approved with non-payment records,” or “Not Approved.”

Frilans Finans has accounts with credit reporting agencies and can immediately provide information about a customer’s financial status. Frilans Finans’ decision concerning the assessment status cannot be appealed.