Categories

What % of total contract should be paid upon completion of the job?

Question Icon
Posted by: from Laconia
1/11/2014 at 4:16:20 PM

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?

REPLIES (1)
User Icon
Kenny from You Nailed It in Memphis
Date/Time4/17/2016 at 11:20:01 PM

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
Great renovations start with a great contractor.

Since 2004, TrustedPros has been helping homeowners find the right contractor for their home improvements and repairs.

Post Your Project

Within hours you'll be comparing offers from top-rated professionals. It's free to post and you're under no obligation to hire.

 
Trustedpros Inc. does not warrant the accuracy, completeness, safety, legality or usefulness of any Content, or Whether Content is Current and up-to-date, and TrustedPros Inc. Shall have no liability whatsoever with respect to your use or reliance upon any content or for content being removed or otherwise ceasing to be available. Please refer to the terms and conditions of use of this websites for more details.
Categories

Get Free Estimates

Post your project and compare offers from top-rated pros.


x