Sharon,
Speaking from the perspective of a GC I would agree with j Scott. Personally, my company structures its contracts differently using draw payment systems. For example, up front we usually charge a signing/permit fee (depending on price of project around $150-$450) earnest money to prepare and pay for any documents and permit. After providing you with permit an necessary documents we then ask for draws at pivotal points (every project varies, but normally 2) first being Pass of rough inspection, but the second we break up to a per trade basis. At this point we walk through with the owner, each specific trade and if you we agree jobs are done properly we both initial and sign and request a draw.
So other than agreeing with Jason the best thing i think to do is before signing a contract find a contractor who is willing to spend a few hours talking to you about how they structure contracts, how they manage their subs, how often will they be onsite. Basically just get to know them , if your giving them anything of any monetary value and trusting them to work for you getting to know them is a very necessary part.
Were primarily are a Carpentry General Contractor so we do 60-70% contract work in house and the other 40-30% we schedule when we are there working so that we can proactively brainstorm and solve problems as they arise.
Hope that i could have been more helpful.
Zech
@Sharon Klein
