QUOTE(Meow.26 @ May 31 2012, 01:22 AM)
I believe payment terms can be negotiated. Both parties wanted thing to be in their best interest but as a consumer, we are skeptical with their credibility (workmanship & responsibilities) and i suggest you to negotiate with your carpenter for the payment terms. 52% before commencement is really unreasonable as
3% for your last retention for defection is really dangerous. (defection in terms of poor workmanship in joinery lines, quality, malfunction of accessories - hinges, drawers, sliding doors, etc)
So my advise is, negotiate with him regarding the payment terms and if he is sincere, he will discuss with you on this matter. FYI, last retention/last payment usually cap within 5 - 10% depends on the project amount.
Agreed! 3% is too less. 10% is reasonable for both of us.
Already negotiated with him. So far so good...
Added on May 31, 2012, 6:05 pmQUOTE(Asianladybird @ May 31 2012, 05:23 AM)
Normally, the term of payment is 40% deposit, 30% upon installation, balance upon completion.
No inspection period?
Added on May 31, 2012, 6:34 pmQUOTE(cavynz @ May 31 2012, 08:59 AM)
Is this contractor that you have in mind at the moment ? why don't get a few quatation first from other contractors, then you can make a comparison to suit your budget and also your design requirement.
Even though, he is your fren's fren. Sometimes, the close relationship doesnt guaranted you a better price or rather is easier to potong
SInce the amount you gonna spend is huge ! why not, take some time to search around first. Unless, you really impressed with the workmanship of this contractor.
Actually i got 2 quotation from 2 carpenters. The other one is quite LCLY and the price is sky high.
This post has been edited by baxokp: May 31 2012, 06:34 PM