Smaller contracts: Any contract up to a total contract value of £2,000 inc VAT – no change – we require 25% deposit upon signing a contract. This can be paid by any type of payment system (cash, debit card, cheque, bank transfer). Any deposit paid will be equal to or less than £500 and is therefore exempt from the deposit protection ruling which only applies to deposits of over £500.
Medium sized contracts: Any contract with a value of between £2,000 and £4,000 inc VAT – we will simply request a maximum of £500 deposit (this will represent somewhere between 25% and 12.5% of the total value). This can be paid by any type of payment system (cash, debit card, cheque, bank transfer).
Larger contracts: Any contract between a total contract value of £4,000 and £30,000 inc VAT – we require 25% deposit (or 15% for conservatories as per our existing policy) – £100 of this value must be paid via credit card – which will provide the necessary protection. The rest of the deposit can be paid by any type of payment system (cash, debit card, cheque, bank transfer).
Very large contracts: Any contract with a contract value of more than £30,000:
Conservatories: we require a £500 deposit. This can be paid by any type of payment system (cash, debit card, cheque, bank transfer).
We will then add the remainder of the deposit to the first Stage 1 payment as per the structure below. We will then simply carry out our contract with the usual stage payment terms as per our contract which we will enforce rigidly.
Conservatories / Extensions / Garden Rooms:
- Deposit: 15%
- Stage 1: 35% meaning completion of building work – building the base
- Stage 2: 35% meaning completion of framework and roof structure including glazing
- Balance: 15% meaning completion of all work described in contract
Any contract under a total value of £30,000: If a client would like to receive the benefit of deposit protection – even for a contract which does not fall into the statutory requirement (i.e. with a deposit of £500 or less) we will allow a split deposit so that £100 may be paid via credit card and the rest of deposit to be paid by any other payment system.
Multiple contracts: If a single customer purchasing multiple contracts at the same time – e.g. £4,500 windows / £2,000 roofline / £1,200 garage door : this will be treated as three separate contracts rather than adding all contract values together : i.e. following the process above – these contracts would incur deposits of £500 (with £100 via credit card) / £500 / £300 i.e. £1,300 in total.
*There are multiple providers of IBGs (HomePro, GGF, Certass to name just three). We have always used HomePro to provide our IBGs but there many other companies that all offer similar schemes, we are free to use whichever provider we want to provide this service for us and for our customers.