Our typical payment schedules involve no Initial Deposit, and Progress Payments as follows:

We implement a rigorous payment schedule that involves a valuation every four weeks throughout the duration of a project. A comprehensive evaluation is undertaken to determine the precise value of work completed and its monetary value.

This valuation forms the basis for the subsequent payment, guaranteeing a transparent and equitable distribution of funds. This approach fosters a collaborative partnership between builder and client and provides clients with clear visibility of their investment, allowing our company to maintain operational financial efficiency. It would be expected that the Contract Administrator would access and verify each valuation to make sure of fairness at all times.

Retention: Most construction contracts ask for there to be a specified retained sum held by the client for a specified period after completion of the project. This is to cover costs if a contractor fails to return at the end of the specified retention period to correct any defects. This can only happen if there is a contract signed by both the client and contractor, and it must be administered by another (usually an architect) whose job it is to be fair and impartial to both parties. PA Hollingworth & Co. will not enter into any project without the inclusion of a Contract and Contract Administrator. The Contract Administrator would be appointed at cost to the client.