SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (18446)3/11/2004 2:19:58 AM
From: GraceZRead Replies (3) | Respond to of 306849
 
Home improvement contractors are subject to far more regulation in regards to business practices. I imagine that in your state as it is in mine most commercial contractors get bonded. The bonding allows for all kinds of payment schedules to be worked out between the customer and the general, the general and the sub.

A good friend of mine does restorative and decorative painting on some very large commercial, government and church restoration jobs. He told me that the general contractor reserves 10% of the total of his bill for 6 months to a year even if his portion of the work is completely finished. I forget what they call this, but the idea is that they keep this money until every aspect of the job is done, all contracts outstanding are completed and the customer has signed off on the contract as completed.



To: Elroy Jetson who wrote (18446)3/11/2004 4:28:19 PM
From: David JonesRespond to of 306849
 
Elroy I'm not sure about commercial jobs. It covers all general contractors so maybe yes. Although the practice maybe to disburse a payment after x supplies or some such is on the job site which could be first day of actual work. All depends on what one signed into the contract.
The 200 or 2% for pools surprises me, I was under the impression they were held to 10% or 2k which ever is less.


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News