Hey if your a contractor and you want to get paid on your work, this article online at JLC gives some great tips on keeping a payment schedule going…
Legal Adviser: Why Wait to Get Paid?
by Quenda Behler Story
A lot of my columns seem to be about how to get paid for your work — and with good reason. When it comes to business legal questions, that’s the big one. Fortunately, there are a number of things you can do during the course of a job that will help head off any payment problems.
Structure your payment schedule so you get paid as you go. A customer is less likely to miss a scheduled payment if, for example, you could walk off the job, leaving his roof open.
You can make a payment due every Friday or something, but I personally like to tie progress payments to events: when you finish pouring the footings, complete the drywall, install the utilities — things like that.
Leave as little owing as possible at the completion of the job. In the sample contract language that follows, only 5% is left owing when the job is finished:
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