When Is Money Due for a Pool Project?
due in the project lifecycle
As specified in every contract, and per Arizona law (ARS 32-1158.01), we have established five (5) payments during a project lifecycle to ensure you see the value as the project progresses, while ensuring the project is completed in reasonable time.
Money Due
- First payment is a deposit and occurs when signing the contract agreeing to the commencement of project and is 15% of the project total cost.
- Second payment occurs at excavation and is 25% of the project total cost.
- Third payment occurs at shotcrete and is 25% of the project total cost.
- Fourth payment occurs at decking and is 25% of the total project cost.
- Final and Fifth payment occurs at interior finish and is generally 10% of the total project cost. It could be higher or lower if the customer requested change requests which raised the original project costs or a credit was offered to the customer reducing the balance due.
Note that all changes will be reflected in a change order, with signatures, which is an addendum to the original contract. There will never be hidden costs, nor surprises in respect to payments – unless the surprise is to the customer’s benefit in a credit as a reduction!
In projects not including a pool or spa, a structured payment schedule will be drafted in similar payment segments.