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Reno Quotation Payment Terms
solarspy posted a topic in RENOVATION WORKSDear All, I am seeking quote to mainly do carpentry work for the kitchen, living & bed rooms. I wish to understand if the following payment terms and conditions are normal and acceptable? The way I look at it is the ID has already collected 90% of the payment after the cabinet measurement. The ID explained that his carpenter will demand payment to buy the material before starting the carpentry work. Do you think this is fair? What are the payment terms that your ID laid out? Thanks. 1 Upon signing up this contract 15%2 Upon commencement of works 40%3 Upon measurement of carpentry work 35%4 On completion of works 10% N.B Compensation of 30% would be expected for any cancellation after signing the contract.We hereby agree and confirm acceptance of the price, layout terms and conditions statedabove by signing on the space provided below- by a 1st time home buyer