Contractors With Payment Plans
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FAQ
In construction, a payment schedule (or schedule of payments) is a list of dates setting out when payments will be made by one party to another under the terms of the contract between them.
The Net 10,30 and 60 terms The most typical payment term for contractors (and businesses, overall) is net payment. It means that an invoice is due in a specific amount of days from the invoice date.
A payment schedule defines agreements about the amounts to be paid by payment period.
This is often a sign that the owner or GC is experiencing chronic financial problems that cause payments to be delayed. Payment schedules help contractors to view project cash flow at a glance, and plan ahead to prevent any impact to their company's bottom line.
