deposit reduction

[satnad]

That is one sure way to get in trouble, if you sitting at home with no work, you would be better off, out looking for profitable work, then changing your terms, or cutting your profit, however, this is exactly what some do, when things slow down, they react, thinking oh well at least i will have something, will you really gain by doing that, check your figures, and you will find, you usually loose money in the long term, by accepting work in a panic mode.

It happened to me a few times. Then all kinds of good calls came in soon after but I was too busy doing the the ones I under bid, no time to attend to seemingly good jobs! If I wait and ignore the shotty cheap jobs (customers) then I make more money and work much less.

 

[Bulldog1401]

What are you going to do while waiting for 4 days for the check to clear?
For home owners or unknown GC I would make the $10,000.00 be paid in $800.00 progress payments installments. (Credit limit = $800.00 = profit amount = happy (no last payment = no profit = not as happy but not tottally depressing)

I get my deposit a week in advance of job start date. On the way home from my current job that has 3 or four days left....If they dont have the deposit, I sell their time to someone else, and they go back in the rotation...very few twiddle thumb days, I assure you.

 

[AV ELECTRIC]

In California, Contractors Law Requires A Maximum Amount Of 10 Percent Of The Total Job For A Deposit You Can Ask For More But The Customer Is Not Required To Pay More .

 

[satcom]

In California, Contractors Law Requires A Maximum Amount Of 10 Percent Of The Total Job For A Deposit You Can Ask For More But The Customer Is Not Required To Pay More .

So you get the 10% deposit, then they pay a day rate every day you are on the job, starting with the end of the first day and every day you are there.

Nothing illegal with that.