pay schedule

[satcom]

bbaumer,
Just out of curiosity, as a PE, do you get a deposit for your work? I realize that you may only work for architects, but I know alot a architects and engineers, and everyone of them want a deposit before they even start work - SO WHY SHOULDN'T WE????
muckusmc

Yes indeed, the architects require a deposit, before they do a lick of work!

 

[bbaumer]

bbaumer,
Just out of curiosity, as a PE, do you get a deposit for your work? I realize that you may only work for architects, but I know alot a architects and engineers, and everyone of them want a deposit before they even start work - SO WHY SHOULDN'T WE????
muckusmc

Nope. No up front money.

It depends on who I am working for, the scope of the project and the proposed schedule but in general terms for a fixed fee project are 25-40% at design development, 25-40% at 50 % CD's and 25-40% at 100% CD's. But that varies a lot. Some jobs are small and fast track and I may only have 1 or 2 invoices. Some seem to drag out for months with schedule changes and delays so I always have language in the contract to adjust payment terms due to schedule slippage. In that case I bill on a % complete basis and the original terms go out the window.

Pay-when-paid, not to exceed 60 days from date of invoice.

If I am working hourly I bill monthly, or at the job completion if it is small, with payment due within 30 days.