Expiring estimates?

 
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Kozphoto
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Joined: 20 Mar 2006
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Location: Vancouver; Canada

PostPosted: Tue Feb 17, 2009 7:15 pm    Post subject: Expiring estimates? Reply with quote

Here's something I've been wondering about. I have a few estimates out that are a few weeks old now, does it make sense to put an expiry date on your estimates? If so, what sort of time frame would be appropriate? I've been thinking about the '90 day' mark. After that date an updated estimate would be submitted if the project hadn't been awarded. Have any of you had someone backburner a project then come back to you with your estimate months, maybe a year, later?
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Frank Nagy
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PostPosted: Tue Feb 17, 2009 10:38 pm    Post subject: Reply with quote

All my estimates come with 30 days only.
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tcphoto
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PostPosted: Wed Feb 18, 2009 4:01 pm    Post subject: Reply with quote

I have been trying to separate the serious inquiries from the window shoppers lately. My Estimates will be honored for ten days and that will be the lowest fee that they will see. A retainer of 50% is due in order to start production and the balance due either on delivery of the images or within thirty days. I am adjusting for the recession but will not compete with those on craigslist. The experienced Client will be ready to commit while the others will never commit and fade away.
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Mike
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PostPosted: Wed Feb 18, 2009 6:13 pm    Post subject: Reply with quote

I think 90 days is too long and 10 is too shot, at least for commercial work. 30 days sounds just right to me. Although the good things about 10 days it could make the client decide quicker.
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Brooks Ayola
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Joined: 08 Mar 2006
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PostPosted: Wed Feb 18, 2009 7:25 pm    Post subject: Reply with quote

The standard APA estimate form has this language on it. I've never changed it in 15 years.

"TERMS:
This estimate is valid for 30 days from the above date. Final billing will reflect actual, not estimated expenses, plus applicable taxes. Fees and expenses quoted in this estimate are for the original layout and description of service(s) only and for the uses specified. Advance required prior to production. Fees for licensing of additional available rights wil be quoted upon request. Full Payment is due upon your receipt of an invoice. Late charge___% per month after 30 days."
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bubs
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PostPosted: Wed Feb 18, 2009 7:57 pm    Post subject: Reply with quote

30d for me as well.
50% up front for new clients or larger productions with existing clients.
30d terms with the potential of interest added
here in the UK I am entitled legally to charge interest
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