I am doing a full rehab of a kitchen, bath, dining and sun rooms. I have a proposal in which only 3% of the contract amount is withheld until completion.
This seems low to me? Is there a standard amount?
In my business, the law allows 30% deposit. I request weekly draws for materials and labor up to 20% of contract, which is held till final punch and customer's approval.
KK
Search the TrustedPros directory and discover the best contractors in your area.
Find your home service pro