Reference: Direct Hire Payment Terms
VNDLY provides these options for setting up payment terms of vendor fees for direct hires.
Payment Term | Description | Fee Type | Number of Payments |
|---|---|---|---|
Immediate | VNDLY triggers the payment when the work order goes live. | Fixed amount or percentage of starting salary. | 1 |
Weekly | Enter the number of weekly payments and the fee type.
The payments will be in consecutive weeks with no gaps. | Fixed amount or percentage of starting salary. | Any. There is no minimum or maximum. |
Monthly | Enter the number of monthly payments and the fee type.
The payments will be in consecutive months with no gaps. | Fixed amount or percentage of starting salary. | Any. There is no minimum or maximum. |
Quarterly | Enter the number of quarterly payments and the fee type.
The payments will be in consecutive quarters with no gaps. | Fixed amount or percentage of starting salary. | Any. There is no minimum or maximum. |
Custom schedule | Use this option when you want mixed fee types or gaps in payments.
You can configure different fee types and amounts for specified weeks. Example: You can set up a payment of a fixed amount every 3 months. | Any combination of fixed amount and percentage of starting salary.
Example: You can pay a fixed amount in week 1 followed by a percentage of salary for each of the next 20 weeks. | Any. There is no minimum or maximum. |
Pre-negotiated agreement | Use this option to track headcount for reporting purposes when payments will be made outside of VNDLY. | None | None |