Re: Down Payments?

[J. Sloud <jsloud@xxxxxxxxxxxxxxxxxxxxxxxxxxx>]

On Mon, 22 Aug 2005 22:31:48 -0500, "JW" <golf4nospam@xxxxxxxxxxx>
wrote:

>Hi All,
>Our contracts state that we will receive a 50% down payment upon signing
>with the balance billed after completion. Today, a new customer (who already
>signed the contract and sent a large downpayment since it's a big job)
>called very upset about the practice. He said no other vendors require it
>and that it smacks of being a fly-by-nighter. I think it smacks of sound
>money-management... but of course it made me wonder what the norm is in the
>industry so thought I'd ask for some feedback.
>
>Thanks for sharing!
>

It's generally accepted that the customer who pays something up front
will be more likely to pay in the future.  If they object to paying a
deposit, I'd wonder what their intentions will be down the road.