Staged Payments (Contract templates enclosed)

[Liberator]

Hi Guys,

I know you'll probably all shudder at the thought, and I normally wouldn't do it but need the cash:

I have a client wanting to Pay i n3 installments, £2k deposit, £1.7k 30 days payment and final payment another 30 days of £1k......

does anyone have a terms of payment contract that I could use to ensure that I get paid, or have a legal plan in place to chase payments should any problems occur.

Also, should I add interest to the 2nd and 3rd payments?

Thanks guys...

 

[DiscoDave]

Re: Staged Payments

small works contract, just details the payments under the terms of payment. I always put down 50% after 1st fix, remainder on completion. even on a job that is only supposed to take a day or two, cos if it all goes wrong and you can't get back to do your 2nd fix cos the roof fell off, at least you've got enough to cover the materials.

 

[Liberator]

Re: Staged Payments

Cheers Dave,

do you have a rough template I could look at to modify?...

btw, I used to live in Knaresborough, just up the road from Harrogate, small world - and a lovely part of it to boot

 

[Liberator]

Re: Staged Payments

Nevermind, just spent £30 online for some templates... better than spending about £3000.00 for a solicitor to do them I suppose as I was quoted earlier..........

Help yourselves guys......

(Business to Business & Business to Consumer)

 

[Liberator]

Re: Staged Payments

A Quick question for you more established companies out there:

How do you submit the Contract to your clients?

Printed on back of quote?
Before you give a quote?
After the quote but before work completes....... etc..

Any help would be much appreciated..

~Liberator

 

[BluSparx]

I normally send a copy of the contract with the quote along with a copy of the T&C's asking the customer to sign the contract before work commences. If not had anything back after 7 days I then chase as no work will be started until the contract is returned