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Do-It-Yourself (DIY) Question & Answer Forum
money / payment up front
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<blockquote data-quote="green-hornet" data-source="post: 70730" data-attributes="member: 2683"><p>For domestic work I would normaly work a payment on completion of first fix.</p><p></p><p>This serves two purposes, a, it shows I have taken the risk and paid up front</p><p></p><p>b, satisfies me that no further losses could be incurred at a later date. Final payment within 7 days or 14 days from completion.</p><p></p><p>For all comercial and industrial work everything is on 30 days from invoice.</p><p></p><p>However some larger projects would require interim payments, this has to be set out at the time of quote and done by a solicitor to make it binding.</p><p></p><p>Interim payments can be a ****** to control, which is what you will need to maintain cash flow and pay all employees or subby's.</p><p></p><p>I have lost</p></blockquote><p></p>
[QUOTE="green-hornet, post: 70730, member: 2683"] For domestic work I would normaly work a payment on completion of first fix. This serves two purposes, a, it shows I have taken the risk and paid up front b, satisfies me that no further losses could be incurred at a later date. Final payment within 7 days or 14 days from completion. For all comercial and industrial work everything is on 30 days from invoice. However some larger projects would require interim payments, this has to be set out at the time of quote and done by a solicitor to make it binding. Interim payments can be a ****** to control, which is what you will need to maintain cash flow and pay all employees or subby's. I have lost [/QUOTE]
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money / payment up front
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