Frequently Asked Questions: Contractors

Want to see our contractor feature in action? Have a look at the demos below:

• For clients 
• For contractors

Can Contractors raise payment requests?

Absolutely, contractors can initiate payment requests directly through our platform.
Our system enables clients to review and manage these requests with the option to approve or reject them. Contractors can request payments upon project completion or for daily our hourly work, ensuring flexibility and transparency.

Either you, the client or the contractor can raise the payment requests. Approval can only be given by the client.

When are Contractors paid?

Contractors are paid as fast as 3-5 days after funds have been received by Horizons.
We have optimized our payment processes with short waiting times for contractors to receive their funds. Payments are processed post-invoice clearance with fast turnaround times. 

Is the status in Real-Time?

Yes, our platform allows both contractors and clients to monitor payment statuses in real time. This feature provides contractors with clear visibility on when to expect their funds and keeps them updated on the status of their payments at any moment.

Will separate invoices for EOR Employees and Contractors be issued?

Yes, To facilitate better financial management, we provide separate invoices for Employer of Record (EOR) employees and contractors. This distinction simplifies financial tracking and reporting for our clients.

Consolidated Invoicing System

Our invoicing system is designed to combine all fees and payments related to contractors into a single document. Monthly recurring payments are automatically summarized and sent to clients on the 10th of each month, accessible through the Horizons platform. Ad-hoc payments like hourly, daily or milestones payments generate separate invoices in real time to accommodate specific needs.

What are the Contractor Fees?

There are two primary fees associated with our contractor service:

1. Subscription Fee: A monthly charge per contractor for using our platform, billed on the invoice issued on the 10th of each month.
2. Payout Fee: Charged for every payout made to the contractor, reflecting the transactional cost.

Horizons ensures that contractors are paid promptly once invoices are settled, and our services are charged in advance to maintain financial discipline and ensure smooth operations.

How are Currency Conversions handled?

Horizons handles currency conversion for contractors effectively: When clients pay contractors, we manage the conversion to their local currency, leveraging our partnership with Airwallex to ensure market-leading exchange rates.

To account for exchange rate fluctuations, we use the Forward Rate method for invoices. This method ensures consistency and avoids surprises by considering the exchange rate on the day the invoice is sent (typically the 10th of each month) and the rate when contractors receive their payments.

Currently, we support forward rates for 11 different currencies: AUD, CNY, HKD, EUR, GBP, CAD, SGD, CHF, NZD, JPY, and THB.

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For any further questions or concerns, please feel free to reach out to us at support@joinhorizons.com.

Interested in onboarding a Contractor? Take a look at our Guide: Your Comprehensive Contractor Onboarding Guide with Horizons : Horizons Help Center (joinhorizons.com)