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Payment terms

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Posted by: from Sparta
12/19/2011 at 1:39:38 PM

What is the recommended breakdown of payments made for a contractor doing work requiring labor and materials? I have a contractor that is willing to have me pay everything at the end of the work. I would like to do 25% upfront, 50% half-way through and the final 25% at the end.

Any advice/recommendations?

This is in Hancock County, Georgia.

REPLIES (4)
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PO Design Creation in Ridgewood
Date/Time12/20/2011 at 9:10:52 PM

There are no rules as to how much money should contractor take up front and during the work. It only depends from how this contractor and client agreed upon payments.

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Date/Time12/27/2011 at 11:08:25 AM

I take 1/3 upfront, 1/3 mid way through and the last at end of job.

Sometimes depends on the job, there will be material check (expected cost) up front, or we run the tab to a amount, or the client will pay for all material all the way through the job.

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Date/Time12/31/2011 at 11:57:47 AM

It depends on the size of the job and how long it will take - on a small job we will require a 25% deposit and balance upon completion on a large job a 25% deposit and we bill weekly (for repeat customers on small jobs we will bill upon completion).

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Date/Time3/15/2012 at 6:36:15 PM

You can do stage of payments.

Deposit -up to 10% no higher than $1000 upon order material. Start paint and so on.

Good luck!

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