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Is 50% deposit in advance a reasonable payment plan for small conservatory build?
We have been quoted £7000 by a small conservatory company who we have checked the references of and all seems satisfactory. Their payments terms however are 50% deposit in advance and 50% on approved completion.
I'm seeking advice on whether this is a reasonable deposit for materials and if so, what is the best way to safeguard the client and contractor? Would it be acceptable to pay 50% on receipt of materials on site in our name?
5 Answers from MyBuilder Conservatory Installers
Wellingborough • Member since 25 Feb 2009 • 37 jobs, 100% positive feedback
As a small building company I do conservatory bases and my friend does the conservatory itself as a combined effort and we never ask for a deposit. We normally take a percentage once materials are on site and the rest on completion.
As a rule most builders and window fitters have accounts with their suppliers so dont need any money up front. Some companies do ask for deposits though due to time wasters which are a plenty, the deposit tends to weed them out!!
If they are a reputable company with excellent references and you have seen some of their work first hand a deposit should be fine. 50% though sounds a bit much!!
Hope this helps.
Answered 18th Aug 2011
As an experienced conservatory fitter we would normally take a 5% on signing the contract. Then the balance would be split up by three equal stage payments. First payment on commencment of work, second on completion of base and building work and final payment on completion of all work. Hope this helps and please contact us with any further questions.
David Yell Installations
Answered 25th Aug 2011
As a Builder we would take stage payments for example 25%, 40%, 25% and final 10% on completion of all work. Normally we dont take deposits we do at least a weeks work before a payment as agreed with the customer.
We always do the work to a contract with a planned procedure in place signed by the customer and us.
So pay by cheque and always get a receipt.
If you need a copy of a contract sending just email me your details any other help drop me a line.
Builders of Hessle Ltd
Answered 18th Aug 2011
Hi, as builders we would normally ask for a 25% commitment fee from our customers, however, as a conservatory in its self is expensive, 50% of the contract cost is fine so long as you get a receipt. You should also be signing a contract supplied by your contractor prior to exchanging money. If he doesn't supply a contract, I suggest you download the 'FMB plain English contract', you fill in and get them to sign it.
Answered 17th Aug 2011
Hi as most have already said you must have a contract spelling out what works are to be done before before you hand over any sort of payment it is fairly common in the double glazing industry to ask for a deposite but as an installer we normaly ask for am third up front with balance on completion .
hope that helps
Cheers Phil S
Answered 23rd Aug 2011
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