At the signing of the contract for services, the customer is required to a pay a retainer to bind the agreement. The amount of the retainer depends upon the nature and scope of the services to be provided.
The retainer is held in reserve until the project is completed. It is applied as payment of the last invoice due at project completion. Should the amount of the retainer exceed the amount of the last invoice, any excess is paid to the customer when the completed car is delivered.
All customers are invoiced monthly and the amount of the invoice is due upon receipt. If the monthly invoice is not paid, work on the project may be suspended until it is and, after 30 days, interest at the rate of 1.5% per month is charged until the invoice is paid.
Each monthly invoice includes:
- documentation of the time expended by day and a description of the tasks performed,
- copies of all invoices for parts, subcontractor services, and shipping costs,
- photos documenting the work performed, and
- a progress report summarizing the work performed and any other related information important to the customer’s understanding.