There are certain key elements to include in a bid, beyond price. The estimate should also describe the work assignment, terms of payment and the contractor's guarantee. You should also ask for copies of the contractor's liability insurance and worker's compensation certificates. For smaller jobs, such as installing a garbage disposal, most contractors expect payment upon completion of the task. For big jobs like whole-house wiring, you'll probably be asked to pay 10 percent before work begins.
Contracts generally stipulate progress payments upon completion of certain stages.
One big caveat is to withhold the final payment until you've received a waiver stating that all suppliers and subcontractors have been paid by the electrical contractor. If the contractor doesn't pay his bills, you may be responsible for payment. FREE First Aid Kit Be prepared for any emergency at work, play, home, or on the road New Low Price on PalmVx. Enjoy full member benefits. Sure with the FREE First Aid Planner.