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A Matter of Mutual Trust

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Saturday, April 12, 2008

When you decide to remodel your kitchen -- or have any job done, for that matter -- you can easily find professionals who will not demand full payment upfront. They don't require this because they know the job will turn out fine and that you will be satisfied with their work.

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The key is to spell out in the contract what is due when. You must hold back enough money to be able to continue and finish the job at any point. Imagine what might happen if the contractor gets injured on your job and you have to bring in another company to finish. If you give the contractor too much money, you lose your leverage.

It is critical that you make payments when you say you will. Trust is a two-way street. You are trusting that the contractor will do great work and do it on time. The contractor trusts that you will make the correct payments when they are due.



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