So my typical work process includes visiting with the client and spec’ing out the project, I send them a proposal, they approve, then send an invoice which requires 50% down payment to order equipment.
This has worked well and most of my long-term clients I don’t even require the down payment anymore because risk is low.
However I’m curious how do others handle if the client pays the down payment, you order equipment, and then they cancel the project. Do you refund the money which means you’re stuck with the equipment, which sometimes can be specialized and not easy to resell.
I’m just curious how others handle this??