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Renovation Wiki

Payment Scheduling and Terms for the Project

Points to Note for Renovation Contracts 📋✏️🏠

Payment Arrangements and Terms 💵💰

1️⃣ Suggested installment method: Based on work phases = Pay according to progress.

2️⃣ For a complete home renovation, payments are preferably divided into at least four phases. The first installment should not exceed 40% of the total project cost. It's best to make the payment only upon completion of that phase. Before the delivery of furniture, the collected fee should not exceed 70% of the project cost.

3️⃣ Clearly specify the commencement and completion dates, ensuring both parties understand the definition of working days (excluding Saturdays, Sundays, and public holidays).

4️⃣ Post-completion maintenance period, which typically begins from the completion date.

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