common industry practice-deposit
Last Post 06 Jun 2007 01:57 AM by traderjack. 6 Replies.
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kavadeUser is Offline
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23 May 2007 09:39 AM
I put a $1500 deposit on panels with a big SIPs company. My understanding was that the deposit was refundable up until the point at which they did some work, for example, shop drawings. I also understood that shop drawings would not be done until I provided approved
plans. The company had given me a rough estimate based on unapproved rough drawings.

Well, next thing I know I am FedExed shop drawings based on the unapproved drawings. Because of this, and other things that made me nervous about the company, I decided to change to another manufacturer. I asked for my deposit back and have not gotten a reply.
My question is this: what is the common industry practice toward returning deposits?

Thanks for any info,
Kavade
PanelCraftersUser is Offline
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23 May 2007 10:43 AM
Posted By kavade on 05/23/2007 9:39 AM
I put a $1500 deposit on panels with a big SIPs company. My understanding was that the deposit was refundable up until the point at which they did some work, for example, shop drawings....My question is this: what is the common industry practice toward returning deposits?

I'm sure that it depends on the company. Common business etiquette would be to refund any monies not yet consumed, and I'm sure that's the way most companies would handle the situation. However, there are always a few 'bad apples' in any business, so it really depends on the company.
....jc<br>If you're not building with OSB SIPS(or ICF's), why are you building?
edbUser is Offline
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23 May 2007 12:29 PM
My experience is limited to one manufacturer, and shop drawings are never done until approved and confirmed by customer. All deposits are returned. They have even, in some cases that I know of, gone way beyond what I have seen any other company do to insure customer satisfaction.
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25 May 2007 08:11 AM
For $1500 they would probably prefer not to have the bad press if you put a little pressure on them. It might be worth $100 to have your attorney write them. And tell them you plan to warn people on the forum here of their bad policies if they do not return the deposit. But give them time to respond and correct the error as all have had mistakes and individuals may not apply company policies accurately. Ask to speak to the GM.
kavadeUser is Offline
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25 May 2007 03:58 PM
Thank you for the info,  folks. I just had a call from the company saying they would indeed refund the deposit. Sort of makes me wonder if they monitor this website. I expect they will do as promised, and if not I'll let you guys know.

Again, many thanks for the info. This is a great site.

Kavade
John in the OCUser is Offline
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03 Jun 2007 04:49 PM

We had to go through 3 designers. Fired two for not returning phone calls within two (2) weeks.

 

Beware. Lots of flake designers out there! READ your contract and don’t be afraid to rewrite it or get an attorney to proof it. Never NEVER take verbal promises...write them into the contract.

 

My personal opinion is to stay away from a certain designer/contractor in Corona California...

 

traderjackUser is Offline
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06 Jun 2007 01:57 AM
I checked with the BBB and three local references before I sent any money and signed anything with the company I am using. I was free to either use their plans, their design Dept. or my own draftsman. Every time I have called they are very friendly, and have answered ALL of my questions and made me feel at ease. BTW my Deposit was $15,000. Don't you think I didn't do my home work as the Company is in Florida and I am in California.
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