We as the UK agent have been invoiced. No contracts have been placed, though many meetings and Works orders and Purchase orders have been issued in the name of our UK company.
Apologies for the delay.
There is no form of contract between us and the Subcontractors.
I am told that there is and Agents contract between us and the Foreign investor but I have not seen that contract to be able to inform you of any usefull detail.
If the funding is not in the account at the time that we issue the orders, however our foreign investor who we have an agency contract with is paying the bills. They have currently failed to pay a significant amount of money and I would like to understand whether we have been trading illegally?
Yes we have been told on numerous occasions that the money was coming. Some has though always late, and only since December have we started to have a real issue. We are now awaiting for funds from as far back as december with invoices way over the 30 day payment terms. Repeated reassurances from the client are being percieved by us as lies, and we have people threatening legal action as a result.
Thank you for your asssitance. This gives me the answer I was hoping for and removes a majot decision to fold the company and allows us to take a much more pro active strategy in trying to get the funds to our sponsors creditors.