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how are payments for construction services structured?

April 26, 2017Construction PAYMENTS Services structured

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Posted

how are payments for construction services structured?

2 Answers

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Posted

A deposit is required to cover the cost of working drawings. Once construction starts, we invoice at month’s end for work that month. Accordingly, payments are due 10 days from receipt of invoice.

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charles yohan Posted

For the payment structure construction service in glenmoore maintains a systematic report of all the activities right from start of the project.

Mortgage bankers,Accontants and Cost engineers are the major contibutors in creating overall plan for payment structure as well as financial management.

1)Accountants are responsible for recording the monetary flow of the project over the life.

2)Cost engineers and estimators relate work and material involved for proper execution.

This overall contribution of the work decides the payment structure of construction service.