"..can navigate the current economic turbulence"......by shafting their Contractors!
Dear Valued Partner,
We hope that you are well and safe in this time of crisis.
As you are aware, the global outbreak of COVID 19 pandemic is a humanitarian crisis and has given rise to unprecedented challenges to businesses globally. The situation calls for businesses to respond quickly to the circumstances that are changing very rapidly. And businesses are required to quickly realign, adjust and adapt to be able to cope with the tough challenges that we all face today.
In view of this crisis, your Client (HCL) is reaching out to you via Valueleaf, to propose certain changes to the terms of our relationship that are in the best interests of all parties involved, so that we may jointly engage and identify measures for cost reductions. Also find attached communication from HCL CPO.
In summary, HCL has changed the payment terms to all Contractors and(or) Agencies to 90 days, with immediate effect, and has requested Valueleaf to cascade the same. Just to be clear, Valueleaf shall pay the contractor/agency, within 5 business days upon receipt of funds from Client (HCL). Please find attached Valueleaf Addendum. We recognize that this will be impactful to your operations and are open to discussing different operational, delivery, and service options to achieve this HCL & Valueleaf are committed to our customers’ success and we expect the same from our partner ecosystem.
Thank you for you continued support in servicing our joint customers and we wish you, your company, your employees, and your families good health and safety.
Advance Payment Option: If you’d like to opt for an early payment term with Valueleaf, that can be facilitated via our flexi factoring model, without any personal guaranties. Feel free to respond back to us, if you’d like to setup a discussion in this regard.