Need license for 50% down?

[lifesaverbuddy]

I know this isn't the right forum, but I wanted to target landscaping only, as I know it's different for lawn maintenance.

As far as I know, I am required to have a pre-paid contractors license from the government of Alberta to accept any money before fully completing work. Bascally they hold $25,000 and if you don't honour your contract they pay for your unfinished work. Since I don't have $25,000 sitting around I have to get a surety bond from my insurance company which costs $600 for 2 years. At the moment I really don't have $600, so I best get one in order to finance my jobs. Are you all licensed to accept your %50 down?

Thanks guys.

Lisa

[Yardwerx Landscaping]

Hi Lisa

I am in Medicine Hat, and have a General Contractors license from the city. We do a lot of concrete work, and can ask for 75% of the payment once the base work and forming are done. As a rule we dont do this, but if there are concerns with the customer, then we will do this before we pour.

Brad