No offense, but that sounds naive. Have you done any meaningful consulting work?
My experience was that the highest value clients paid somewhere in the net 45 to 90 range, despite contracts stating that we billed net 30 that included penalties and interest. And my experience was that it was actually fairly easy to increase prices by 25%, but extraordinarily difficult to get clients to agree to unusual terms (such as a halt in the performance of the contract in the case of minor payment delinquency).
I'm not saying my experience is the only experience, but frankly the only clients who I could imagine agreeing to those terms were puny, and unsophisticated folks who you probably don't want to work for anyway. The more sophisticated buyers all had a lawyer who would negotiate anything like that out of the contract anyway.
You find another client. This one is not going to pay you, and a bankrupt company will, in the very best scenario, give you a few pennies on the dollar, a long long time from now.
My experience was that the highest value clients paid somewhere in the net 45 to 90 range, despite contracts stating that we billed net 30 that included penalties and interest. And my experience was that it was actually fairly easy to increase prices by 25%, but extraordinarily difficult to get clients to agree to unusual terms (such as a halt in the performance of the contract in the case of minor payment delinquency).
I'm not saying my experience is the only experience, but frankly the only clients who I could imagine agreeing to those terms were puny, and unsophisticated folks who you probably don't want to work for anyway. The more sophisticated buyers all had a lawyer who would negotiate anything like that out of the contract anyway.