Payment terms question
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Hello,
I’m relatively new (2 years) to architectural illustration & rendering. I’ve been self employed since 1993 as a manufacturing/mechanical designer. I had a small client base that I received monthly projects from and they in turn would pay in 30 days.
I’m wondering what are common or typical payment terms for architectural projects (rendering, modeling)?
I have my clients sign a proposal that includes “payment due upon completion of project”.
Some clients pay upon completion, others drag it out for a few weeks and the ones that are causing me the most distress disappear when the project is about 90-99% complete. Claiming they are waiting for review from their client. I usually offer them a deal (90% of the money now, the balance due when the project is completed). They agree, pay the 90%, then I never hear from them again.
So, what terms do use?
Do you get a deposit?
Or progress payments?
New clients vs. repeat clients?
Thanks in advance,
Glenn
Btw this board…community is a GREAT resource, I hope as my skill level advances to one day be able to contribute like so many do. -
Buyers and accountants at some companies regard it almost as a matter of honour NOT to pay the agreed amount. If you have to deal with one of those, plan on NOT getting the final 10%. If you do get it then it's more money for beer.
Talking to one supplier I deal with he told me he knows he'll be kept hanging around for money "so I price the jobs accordingly!"
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