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Deposits On Jobs

16463 Views 15 Replies 13 Participants Last post by  Ken S.
Hi All,
My question is on taking a deposit for a job. I understand that the idea of a deposit is so if the person backs out of a job at least by taking a deposit you can recoup your paint costs and possibly a days loss in pay. Correct? Also what do most do if the customer asks for the deposit back?
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Keeping in mind 95% of our work is residential repaints, wallcovering removal/install:
I stipulate in contract mim. $100 deposit payment upon signing of agreement, then 30% - 50% before/at start-up, then balance due when job completed(usually then and there, unless otherwise agreed to and written in contract payment schedule). I also accept major credit cards.
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