[kanadaeh]

I am 3 weeks into a very large project compared to what we usually do. The payment terms we agreed to are 30 days however, due to the size of the project we had to bring in subcontractors to help. They are billing me weekly and expect payment at the same time. We went to the bank and borrowed money to help cover the added expense and this is to be paid back in 2 mths time. I was about to deliver the checks to the subs when I run into another painting contractor and we start discussing the project. I tell him about the subs and he says don't pay them in full. Give them half and tell them your waiting on money. He said go as long as you can without touching the loan. I like to pay on time and like to be paid on time. This contractor does a lot of large projects. What would you do?

 

[Alex PCI]

If you told your subs that you would pay them weekly then do just that. If you told them monthly then do just that. I like to be paid on time so I pay everybody on time. If you have to wait 30 days for your money than thats the risk we take. Do what you feel is right and dont worry what some other painter told you, chance is he probably owes lots of people money.

All of these things are supposed to be covered before any work starts. Everyone has their own payment terms and thats fine. I pay some monthly and some weekly. If I told someone I would pay them this week then I would pay them this week no matter what anyone said.

 

[MAK-Deco]

I agree also if you have arrangements made already then you should stick by them.

I would inspect the subs work to make sure its what was expected of them before handing them money.

 

[crow]

Sounds to me like ya got in over your head man, been there done that. I try to learn from every little mishap that I run into on this path of makin a livin my way. I take notes on the ones that I have run into trouble with and attach it to file, that way I gotter for future reference. as for your word on pay? if you already shook on it,, then best stick to it. might need help later? I as a rule like my pay weekly (if its a large project,) other wise when Im done.

 

[Housepainter]

Probably to late now, but on large projects it is best to determine a plan that everyone is on, you the subs etc. I do mostly repaints on homes. One a few large projects, I do a pay me at the end of the week based on completed work.

 

[PressurePros]

Don't ever burn bridges in business. It comes back to bite you every single time.. espeically with decent subs. If you are getting monthly disbursements and can rest your credit line you won't have anything to lose except maybe a pont and a half on the money.

 

[vermontpainter]

Probably a good lesson learned though...dont set someone else up with better payment terms than you negotiate for yourself.

And hopefully the point and a half is at least covered by markup on the sub.