Do any1 have a sample of payment agreement? We need to come out with agreement with another party who gave a business on payment terms for renovation work which we're going to start up soon. Need it urgently.

Kindly PM if there is any.

Thank You!!

For my recent reno, i didn't have any official payment agreement with my contractor. Because, the quotation has the breakdown of the cost, he will ask for payment on those work he has completed, which is fair enof. i didn't have any problem with it

Progress payment based on actual work done (with a slight retention) would be best for both parties. So, if your contract is priced individually according to the varied trade/ area of work, it should be quite easy.

i think just write your own by word,
state clearly who and who,
costing,
first payment - date
second payment - date
third payment - date
late payment how how how,
if did't clear payment by how many month, then how how how
black and white shud be like tht okie already
and important both sign and got one third parties
if want more secure, find lawyer, but less less ppl will do so la ..haha

I would reckon that progress payment should not be tied to date. To be fair to both parties, it should be based on work done. Work could be delayed for some reason. If that happens, then how?

sorry tumpang thread.
can anyone advice me?

my house reno progress is about 80% done but this situation had lasted for 2 weeks (actually has overdue), the contractor take his own sweet time and at the same time keep asking me for money. Then now he ask me again for money to pay for the aluminium glass door and window, ard 2.5K. I was thinking not to pay first because I intend to pay him one shot (final payment left 3k plus only) cuz he promise this weekend can end the work. But I afraid after I pay him, he will continue to drag the work again and if I dun pay him now, he will say then the job cannot complete on time. Please advice what should I do??

Better get the payment issue sorted out with your contractor. Check out what is the cost for the balance of work. Do not pay much more than that. Else, you will at the mercy of your contractor. Unless you know the contractor well. Even that, you should be cautious.

Can I have the quotation breakdown (i mean the content) ? I'm trying to do it properly with some advises.

Appreciate your help.