Contractor's Creditability?

[dinooo 0]

Hi, am trying to get some renovation work going. just curious if there is any way to check on a contractor/Id's creditability? HDB?BCA?

Also, if the contractor is not registered with HDB or other relevant agencies, does it mean that he is "illegal" in doing renovation work?

Also, can someone share with me on the "standard" payment scheme for renovation work? i.e how many % on sign up, how many % on start work etc?

Thanks much...

[Snowee 0]

According to whats written on the quotation form by a ID firm:

initial 30% deposit

30% upon completion of masonry works

35% upon delivery of carpentry

5% upon handover.

from another quotation by a contractor:

30% upon confirmation

balance upon progressive claim (hmm...this one sounds vague)

[lucia 0]

According to whats written on the quotation form by a ID firm:

initial 30% deposit

30% upon completion of masonry works

35% upon delivery of carpentry

5% upon handover.

from another quotation by a contractor:

30% upon confirmation

balance upon progressive claim (hmm...this one sounds vague)

the id i use and those who quote me will be:

initial 10% on confimation

40% for starting

40% for carpentry

hold 10% till handover.

[dinooo 0]

Thanks, look like there's no std practise..

[SGK 0]

Thanks, look like there's no std practise..

After negotiating with my ID, we are using the following payment schedule:

10% upon confirmation

30% upon delivery of material

30% upon progress payment ( Completion of wet works / Upon arrival of Carpentry )

30% upon practical completion

Keeping 30% to the final payment has two advantages:

1. It ensures that the ID will do the final touch-up and rectifications nicely. In a way, it also shows that they are very confident.
2. It shows that the ID firm has good financial health. IDs or contractors who keep pressing customers to pay earlier may have financial problems.

Edited January 24, 2010 by SGK

[mapple 0]

yup..yup....