Deposit
A deposit is a sum of money that is paid upfront as a partial payment or security for a product or service. It is often a percentage of the total cost and is typically paid before the goods or services are provided or work begins.
Once I've received the 50% deposit based on the proposed rendering contract you've approved, your project will be scheduled. I've emphasized a crucial term in bold. A deposit is more than just a payment—it signifies a commitment. It allows me to allocate time and expertise to your project. Not only will your project be visible on our schedule, but your deposit will also be invested throughout the process.
-Since I'm operating a small business, cash flow is essential. It's crucial for covering the expenses involved in running projects, which can span weeks or even months.
-Deposits play a significant role in reducing the risk of nonpayment. By securing a deposit upfront, it provides assurance that the client is committed to the project, thereby minimizing the likelihood of payment issues later on.