Balance due

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What is left to pay after the deposit and any progress payments, usually due when the job is done.

The balance is the total on the bid less what has been paid. It comes due when the work is complete, and the bid should say so. A contractor requests it with an invoice the day the job is finished, while the customer is standing in the finished room.

The faster the request, the faster the money. A balance requested a week later, after the customer has moved on, is the one that takes a month to collect.

Related: Payment terms · Invoice · Due on completion

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