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Old 02-02-2016, 11:57   #1
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Progress Payments for new builds

Curious to hear how others have structured progress payments when having a new build done.

Concerned about making unsecured payments and wondered if anyone has done similar.
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Old 02-02-2016, 12:10   #2
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Re: Progress Payments for new builds

Open an escrow account.
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Old 02-02-2016, 14:00   #3
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Re: Progress Payments for new builds

Quote:
Originally Posted by Stu Jackson View Post
Open an escrow account.
Yeah, escrow with progress draws after surveyor signs off several stages of the build. Builder signs personal surety too. Think it's the best given that it's not a production boat factory.
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