GJ Gardner’s asking for final payment up front on signing contract

Hi Fred, Never heard of this before. I assume (or anyway sincerely hope) you haven’t signed anything yet. This is a good example of why it’s best to look at, and agree the terms of, the contract before giving a builder any money. Or at least only some nominal amount you’re prepared to give up if you don’t go ahead. I believe funds are sometimes held, by someone like your solicitor, so the builder has an assurance you have the money to pay, as parts of the work are completed. Which I suppose would imply that you can’t remove money from it, or it would be pointless setting up such an arrangement. But certainly not an account he can just dip into when he feels like it, even if there’s a dispute over whether the work is satisfactorily completed. The rules for when the money can be handed over would need to be very clear. I suppose an arrangement like the above would not contradict what it says in the MB contract about payment on completion.