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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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