How do you all management renovation works payment?

1. how/when to pay 'commencement payment'? during keys handover to the contractor time? upon confirmation of drawings? materials?

2. how/when to pay 'progress payment'? is it when work is completed, then you pay?

3. how/when to pay 'completion payment'? is it after all defects inspection?

4. if part of our works are delayed, can i opt to pay for that item's 'commencement payment' only upon commencement?

sorry to ask so many questions. i am only used to managing huge building projects previously in my work capacity (where they have a clear system of payment), so do not want to be like using 'bull knife to kill chicken' (cos mine is really a small reno job), but don't want to be shortchanged too (cos i worry after paying upfront, the service level may drop).

TIA!

How do you all management renovation works payment?

1. how/when to pay 'commencement payment'? during keys handover to the contractor time? upon confirmation of drawings? materials?

2. how/when to pay 'progress payment'? is it when work is completed, then you pay?

3. how/when to pay 'completion payment'? is it after all defects inspection?

4. if part of our works are delayed, can i opt to pay for that item's 'commencement payment' only upon commencement?

sorry to ask so many questions. i am only used to managing huge building projects previously in my work capacity (where they have a clear system of payment), so do not want to be like using 'bull knife to kill chicken' (cos mine is really a small reno job), but don't want to be shortchanged too (cos i worry after paying upfront, the service level may drop).

TIA!

they will state them at the last page of the contract .... i think different firms has got their own practices ... but it should be something like 10% upon confirmation ... 40% upon commencement n uploading of materials ...... 40% upon measurement of carpentry works .... 10% balance ..

You can look at the sample contracts from CASE and RADAC for renovation ....

How do you all management renovation works payment?

1. how/when to pay 'commencement payment'? during keys handover to the contractor time? upon confirmation of drawings? materials?

2. how/when to pay 'progress payment'? is it when work is completed, then you pay?

3. how/when to pay 'completion payment'? is it after all defects inspection?

4. if part of our works are delayed, can i opt to pay for that item's 'commencement payment' only upon commencement?

sorry to ask so many questions. i am only used to managing huge building projects previously in my work capacity (where they have a clear system of payment), so do not want to be like using 'bull knife to kill chicken' (cos mine is really a small reno job), but don't want to be shortchanged too (cos i worry after paying upfront, the service level may drop).

TIA!

thanks.

thanks.

hi there, jeda, you're not alone..

we're also quite lost, n this massive sea of IDs and contractors...

dun mind share share your experience with us, please?

chill & cheers

hi there, jeda, you're not alone..

we're also quite lost, n this massive sea of IDs and contractors...

dun mind share share your experience with us, please?

chill & cheers

actually everything can be discussed with the ID/Con ... Just make sure you find someone responsible ....

hi there, jeda, you're not alone..

we're also quite lost, n this massive sea of IDs and contractors...

dun mind share share your experience with us, please?

chill & cheers

we are only doing minor reno. so far only liaised with our ID twice; have not start work yet, so difficult to know how it will turn out.