Payment terms for Pool reno

Discussion in 'Renovation & Home Improvement' started by hillsguy, 14th May, 2020.

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  1. hillsguy

    hillsguy Well-Known Member

    Joined:
    25th Aug, 2015
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    Location:
    Adelaide
    Looking at resurfacing swimming pool with fibre glass.

    I like the vendor however NOT their payment schedule as below.

    How are others tacking payment schedule with companies/ tradies especially under current economic climate ?

    upload_2020-5-14_15-5-19.png
     
  2. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Location:
    Perth
    If you ring your local consumer affairs/Fair Trading they will advise you how much they can ask for in deposit and ongoing items.
     
    qak likes this.
  3. Mark F

    Mark F Well-Known Member

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    If you are happy with the tradie and he has good reviews then I don't think it is too bad. There are plenty of people who delay/avoid paying tradesmen and I suspect he has been caught out a couple of times.

    I am currently having a faulty sliding door replaced with a double glazed unit. 1/3 up front, 1/3 when door is ready, 1/3 at end of job.
     
  4. Damo93

    Damo93 Well-Known Member

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    What happened to the good old days of a 20-30% deposit up front and the rest on completion?
    I ,too, find myself being given multiple options from different suppliers regarding payment. You just have to adapt to their structure if they are who you want to complete the job or seek someone else
     
  5. hillsguy

    hillsguy Well-Known Member

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    Adelaide
    I hate 'just adapting'. The issue is that customer carries all the risk ! In a world where cash is king I am going to start challenging this ...
     
  6. Something_Wrong

    Something_Wrong Well-Known Member

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    Sydney
    Can you get them to split

    10% Dep
    40% start
    20% fiberglass
    20% Top Coat
    10% completion
     
  7. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Depends on timing too. Is startup to top coat three hours or three months? I wouldn't be 70% in when they have done no work.
     
  8. 24675

    24675 Member

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    2nd Jun, 2020
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    Location:
    VIC
    Generally a 10% deposit is the max, then it should be split up (somewhat) evenly in stages.

    Knowledge from a construction diploma and degree I completed...hope this helps you,
    Nick