Well, it sounds like you're a vendor, not an employee, but do they need this kind of vendor frequently?
The rule of thumb I've heard is that, if there's ever a failure of payroll, the company is toast; the exceptions are so rare that you don't generally bother discussing them. In short, if an actual payroll check bounced, consider the company insolvent. Don't think "this might be one of the exceptions" unless you know - not think you know, but actually know - that they're not insolvent.
For vendors, it's a bit more complicated. Obviously, you always have to be careful about doing business with anyone who bounces checks. Businesses play fast and loose with payables all the time, trying to delay payment, claim late discounts, etc., unless they're flush. For a lot of businesses, holding on to money a few extra days is just part of the game. But an actual check, signed and put in your hands, should always be good. So, please, be careful dealing with these people.
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The rule of thumb I've heard is that, if there's ever a failure of payroll, the company is toast; the exceptions are so rare that you don't generally bother discussing them. In short, if an actual payroll check bounced, consider the company insolvent. Don't think "this might be one of the exceptions" unless you know - not think you know, but actually know - that they're not insolvent.
For vendors, it's a bit more complicated. Obviously, you always have to be careful about doing business with anyone who bounces checks. Businesses play fast and loose with payables all the time, trying to delay payment, claim late discounts, etc., unless they're flush. For a lot of businesses, holding on to money a few extra days is just part of the game. But an actual check, signed and put in your hands, should always be good. So, please, be careful dealing with these people.