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Home Improvement, Design, and Decorating
Reply to "Contractor Payment Schedule -- Would love BTDT advice"
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[quote=Anonymous]20% at the start of the job seems high. What does he need that much money for? Will he be purchasing materials for you or placing orders for big ticket items like appliances or cabinets? Also, how is "start of the job" defined? How is "complete" defined? Is "complete" less 10% a kitchen you can live in? (but may be missing small cosmetic things or punch list items?) Is there a time limit for how long they can take to "complete"? What you want to make sure of is that the 10% left over is a motivator for them to come back and actually finish the job in a reasonable time. I agree with PP above that the payment schedule should approximate the percentage of work complete. This schedule doesn't seem too far off that mark, really, but I'd want to know more about why such a high upfront payment. [/quote]
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