Payment Scheme for ID firms

[Finn Teo 0]

Hi everyone, just want to enquire about regarding renovation payment scheme. My ID ask for 5% payment when signing the quotation. Another 5% after 3D design provided to us. Before works commence, he ask for another 45% payment. Finally he ask for another 40% payment before carpentry works commence. 5% will be retention sum for defects. 

I feel like I need to pay them 95% payment before anything even started. This doesn't seem right. By the way, my ID firm is one of the reputation ID firm in sg. Always got advertisement on TV.

Please kindly advise me.

 

Thanks and regards

 

[Easy2288 0]

Mine ask for 10% upon signing. 

[Finn Teo 0]

Renovation industry is like not regulated. ID can said all companies practice this way.