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Paying builder last payment

Tim Robbins · 2023-10-04 15:31:48

HI, Just wondering what is typical in terms of the last payment to builder? 2 week after completion? 2 months after completion? And what percentage should last payment be?

04-10-2023 04:31PM

#1

Tim Robbins

Registered Users, Registered Users 2 Posts: 9,036 ✭✭✭

Join Date: July 2006

Posts: 8061

HI,
Just wondering what is typical in terms of the last payment to builder?
2 week after completion? 2 months after completion? And what percentage should last payment be?

0

Comments

#2 04-10-2023 04:36PM

Allinall

Registered Users, Registered Users 2, Paid Member Posts: 7,518 ✭✭✭

Join Date: April 2016

Posts: 7371

I would have thought that should have been agreed before the job started.
Had an extension done a few years ago. Payments were staggered. Roughly 20% at specified stages.
Final payment was at sign off by engineer, with 5% of total contract held back for 3 months.

4