Just wondering how you guys deal with payment terms? I've always set-up my contracts in 3 payments. 1/3 down at contract signing, 1/3 at about the half-way point of the project and final 1/3 upon completion of all specified work.
Reason I ask, this past week there's been a few pieces on network TV, interviews with supposed experts on in the arena of homeowners dealing with contractors. The two I saw both were sitting there recommending to home-owners that they should never pay anything down until a substanstial portion of the project is completed.
In the years that I've been in business (and I'm still a babe in the woods compared to many of you) the only time I've gotten stiffed by a client was when I didn't follow my normal course of action.
I noticed on someone's site, think it was Minn Const that they have their terms right there on the website, called for 40% down. Anybody else have that kind of pricing info on their site?
Reason I ask, this past week there's been a few pieces on network TV, interviews with supposed experts on in the arena of homeowners dealing with contractors. The two I saw both were sitting there recommending to home-owners that they should never pay anything down until a substanstial portion of the project is completed.
In the years that I've been in business (and I'm still a babe in the woods compared to many of you) the only time I've gotten stiffed by a client was when I didn't follow my normal course of action.
I noticed on someone's site, think it was Minn Const that they have their terms right there on the website, called for 40% down. Anybody else have that kind of pricing info on their site?