Wilson Cole's Podcast From The Road

President of Adams, Evens & Ross (AER) Wilson Cole talking today about setting and maintaining credit lines. As he has expressed before, think of setting up credit lines as if they were credit cards. If credit card company will give you credit, they may say it’s unlimited, but it’s based on ability to pay back/creditworthiness. Base credit line on creditworthiness and not the degree of their need of your services. Separate client companies into different classes. Class A companies would be big/publicly traded companies, such as Coca Cola, who would typically never have a credit problem, though they may have temporary cash flow issues.

It all falls under the same legal concept and the rule of law as it says that under certain circumstances you have to sign the contract or else it is not a valid contract. If it was never approved, then it is not binding or valid. If you’re a recruiter and you don’t have a signed contract, then, you don’t have a case. An oral contract cannot be longer than one year, because if you do, that’s more likely do not having a contract at all. But, an email or an acceptance of a resume could be connected to your contract, by following an attorney’s legal advice. It doesn’t mean that the acceptance of an email or the approval of a resume means that you accept the terms and conditions. It gives an argumentative point and not absolute unless you bind it to your written contract and have it signed.

Whatever their reasons are, whether they say like they never signed a contract with you, they come from referrals, and they are an independent candidate or whatever, note that Back Door Hire Solutions will still be able to trace and collect them, but you need to have a signed contract.  You make sure what you put everything in your agreement and if they’re hiring for any position in any capacity, always make it something your safeguards.

You have to make sure that the client agrees that they owe you a fee of xyz percent regardless of the other candidate reach out to them directly or indirectly hired and what you want to have in your contract is that they owe a fee for a period of 12months from the last point of presentation or the last discussion of that particular candidate.