What is a reasonable down payment for a contractor?

Payment Schedule In Your Contract Before any work begins, a contractor will ask a homeowner to secure the job with a down payment. It shouldn't be more than 10-20 percent of the total cost of the job. Homeowners should never pay a contractor more than 10-20% before they've even stepped foot in their home.

US Legal Forms
Florida Framing Contractor Package

Framing Contractor

Name: Florida Framing Contractor Package
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.65 (279 reviews)

Category:

Florida Construction - Contractors - Framing

State:

Florida

Control #:

FL-P038-PKG

Format:

Instant download

Description

This package contains essential legal documents for Framing Contractors, Owners, or Framing Subcontractors to use to assert their legal rights or claims and to address important legal issues regarding particular projects. The heart of this package is a framing contract that complies with state law.

Included in your package are the following forms:

1. A Framing Contract - Cost Plus or Fixed Fee
2. A Construction Project Information Sheet
3. A Change Order Sheet
4. A Certificate of Completion
5. A Weekly Equipment Summary
6. A Worker Safety and Health Plan
7. An Accident Report Form
8. A Bid Log and
9. A Bid Follow Up Letter.

View Florida Contractors Forms Package

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View Florida Subcontractors Package

View this form

View Owner's and Contractor Affidavit of Completion and Payment to Subcontractors

View this form

View Sample Complaint by Contractor for Amount Due

View this form

View Contractor Indemnification

View this form

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FAQ

Read and understand the contract. Never pay the full amount of a repair up front and hesitate before providing large deposits. Florida law requires a contractor to apply for a permit within 30 days and start work within 90 days if he collects more than 10 percent of the contract up front.

A general contractor's license in Florida ALLOWS you to: Build, repair, and remodel any type of building, regardless of size or number of stories.Install and perform warranty repairs of wood shingles, wood shakes, or shingle roofing on new buildings of your own construction. Perform structural swimming pool work.

You shouldn't pay more than 10 percent of the estimated contract price upfront, according to the Contractors State License Board.

Payment Schedule In Your Contract Before any work begins, a contractor will ask a homeowner to secure the job with a down payment. It shouldn't be more than 10-20 percent of the total cost of the job. Homeowners should never pay a contractor more than 10-20% before they've even stepped foot in their home.

A: It's not uncommon for contractors to ask for a down payment up front to secure your spot on their schedule or purchase some of the job materials in advance. Asking for more than half of the project cost up front, though, is a big red flag.I recommend tying payments to progress made during the job.

Regardless of your intention, the penalty for hiring an unlicensed contractor in Florida is an offense.It also includes a wide range of conduct pertaining to the home improvement and construction industries, and it is outlined in Florida Statutes Section 489.127.

Generally, Florida contractors are mandated to be licensed and registered to work in the whole state.

Division 1 Categories include General, Building and Residential Contractors.Tower Specialty Contractors, Demolition Contractors and Industrial Facility Contractors must pass the same General category examination of three parts, Contract Administration, Project Management and Business and Finance.

Most typically legit contractors request about 10% - with subsequent draws as certain stages in the project are completed. And in fact, a down payment of more than 10% imposes certain statutory requirements on the contractor. See section 489.126 Florida Statutes set out below.

Framing Contractor

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Framing Contractor

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