What percentage of the Professional Fee is paid upon completion of the Construction phase?

The percentage of the Professional Fee paid upon completion of the Construction phase is commonly set at 50%. This percentage reflects a standard practice in many contracts within the construction industry, aligning payment schedules with completed project milestones.

By allocating 50% of the fee to be paid upon completion of this phase, it establishes a clear checkpoint for both parties: the client can ensure that the services rendered during construction were satisfactory and met their expectations, while the professional is assured of receiving a significant portion of their compensation at a crucial point in the project timeline. This balance helps manage cash flow for the professional and provides a measure of accountability related to the completed work.

Understanding this common arrangement helps professionals in the field to effectively negotiate contracts and manage their financial expectations throughout the project life cycle.