A pre-agreed upon schedule of payments to a contractor usually based upon the amount of work completed. Such a schedule may include a deposit prior to the start of work.
Sometimes a contractor might have dozen or more tasks such as drainage, irrigation pavers, edging, etc. and it is very difficult to determine the percentage completion for each one. this is very time consuming and inaccurate. At POL we estimate the job we be say 8 weeks and the total cost is $80,000, from that we have the customer pay $10,000 a week. If we finish in 7 weeks we get an extra payment that week. If it looks like it will go 9 weeks the Homeowner skips a payment. This method had been very workable.
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