Re: tradesman holdback?

Walter Roberson wrote:
> I'm planning to get some fencing work done this year. I expect that
> there will be a fair bit of material expenses, and of course there will
> be a lot of labour. What would be typical payment arrangements,
> in terms of what would get paid for at what stage? I've heard people
> speak of holding back some amount (10% is the number I hear)
> near completion time; I gather that it is a kind of leverage to get
> the tradesmen to bother to return if you find something that needs
> fixing or touching up. What would be the standard protocol for that?
> 
> I'm not looking for "How little could I get away with paying until
> the last minute" sort of information, just "What is standard and
> customary fair dealings in these kind of situations?"
> 
> Thanks!

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specifically looking at Make it right Tips & Guides as well as CMHC
Hiring a Contractor as well as Sample Renovation Contract.