Thread: Job deposit %
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Old 09-21-2012, 08:43 PM
muddywater muddywater is offline
LawnSite Bronze Member
Join Date: Sep 2011
Posts: 1,813
I never take a deposit. I don't feel comfortable holding other people's money, and I tell the client they pay upon completion when they are 100% satisfied.

We are working on a 100k+ job now and there is no draws, job should take 30 days, and probably another 30 days to pay. I am just glad to have the work, I would rather have a project and my money out on materials than in the bank making less than 1%.

I have had a bond company pay me when a general contractor defaulted. It took a year, but they paid the bill in full and the lawyer fees. And it was for a new church building... go figure.
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