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Yes, it is relatively common for contractors to request a deposit upfront, often around 10% to 50% of the total project cost. This deposit helps secure the contractors commitment to the project and covers initial costs.
How do I make a renovation contract?
A contract with a home renovation contractor should include: a detailed scope of work, project timeline, payment schedule, change order process, contractors license and insurance information, warranty details, dispute resolution procedures, required permits, material specifications, and the signatures of both parties.
Does a handyman need a license in Rhode Island?
As a handyman, you wont need a license to work in Rhode Island. However, if you work on construction, alterations, remodeling or repair projects at residential properties, youll need to register with the State of Rhode Island Contractors Registration and Licensing Board.
How much down payment should you give a contractor?
For a small job 1/2 upfront and 1/2 on completion is normal. The contractor needs to be able to buy materials, set aside the time, etc. For a bigger job (more than a few days) you might pay in installments of 1/3 or 1/4 along the way.
What should be in a contract with a contractor?
The contract should describe, in detail, the products to be used and how the work will be performed, i.e., size, color, who will be doing what work, amounts of materials provided, manufacturer model number, etc. There must be a detailed, written payment schedule in the contract.
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People also ask
Is it normal for a contractor to ask for 50% down?
Its not unusual. If you are not comfortable tell them you are willing to do 50% upon delivery of materials, balance upon completion.
Is it normal for a contractor to ask for half up front?
Up to a 50% Deposit Can Be Reasonable Almost every contractor charges a homeowner a deposit on a remodeling contract. Up to 50% of the total project cost can be reasonable, although 10% to 30% is more common.
Related links
Maron Construction Co., Inc.
Dec 1, 2011 On a separate sheet, list the major projects your organization has completed in the past 5 years, giving the name of project,. BIDDERS
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