R
Ray Stafford
Came across this in one of the trade mags. Link
The idea is that before a big job, the customer puts the cash into a bonded account, controlled by bondpay.
You do the job, and at the end, assuming all goes well, Bondpay release the money to you. If its a long job, stage payments can be part of the contract. If required, the merchant can also be part of the deal.
In the case of disputes, they offer a arbitration service.
The idea being that the homeowner doesn't risk paying a contractor up front (all those rogue traders!) but the tradesman doesn't have to risk the customer not paying at the end.
The big downside looks like the 2.5% fee charged.
Anyone ever used this, or a similar service?
The idea is that before a big job, the customer puts the cash into a bonded account, controlled by bondpay.
You do the job, and at the end, assuming all goes well, Bondpay release the money to you. If its a long job, stage payments can be part of the contract. If required, the merchant can also be part of the deal.
In the case of disputes, they offer a arbitration service.
The idea being that the homeowner doesn't risk paying a contractor up front (all those rogue traders!) but the tradesman doesn't have to risk the customer not paying at the end.
The big downside looks like the 2.5% fee charged.
Anyone ever used this, or a similar service?
