Payment & Cancellation Policy
Last updated: March 15, 2026
Canyon Construction Inc. is committed to transparent, fair payment practices on all construction projects. This policy outlines our payment structure, deposit terms, change order procedures, project cancellation terms, and conditions under which deposits may be refunded.
1. Deposit Requirements
A deposit is required upon execution of a construction contract to secure your project's position in our schedule and initiate pre-construction activities. Deposit amounts are as follows:
- Projects under $100,000: 20% of the contract sum
- Projects $100,000 – $500,000: 15% of the contract sum
- Projects over $500,000: 10% of the contract sum, or as negotiated
Deposits are applied toward the first progress invoice. They are not an additional fee.
2. Progress Billing & Milestone Payments
Following the initial deposit, Canyon Construction issues monthly AIA-format progress invoices based on work completed during the billing period. Payment is due within 15 calendar days of invoice date. Failure to pay within 30 days may result in a temporary work stoppage and accrual of interest at 1.5% per month on the outstanding balance.
3. Change Order Policy
Changes to the approved scope of work require a written Change Order signed by both Canyon Construction and the client before the changed work begins. Change orders are priced at cost plus Canyon Construction's standard overhead and profit margin, which will be disclosed in the change order documentation. Canyon Construction will not proceed with out-of-scope work without written authorization.
4. Project Cancellation Terms
If a client elects to cancel a project after contract execution, the following terms apply:
- Cancellation before pre-construction begins: The deposit is refunded minus any out-of-pocket costs already incurred (permit fees, drawings ordered, materials purchased, etc.) and a 5% administrative fee.
- Cancellation after pre-construction begins but before construction start: Canyon Construction retains the portion of the deposit equal to all pre-construction costs incurred plus a 10% mobilization fee. Any remaining deposit balance is refunded.
- Cancellation after construction commences: The client is responsible for payment of all work completed to date plus reasonable demobilization costs, subcontractor cancellation fees, and restocking charges. No deposit refund is available once construction has begun.
5. Refund of Unused Deposits
If a project is cancelled under circumstances qualifying for a deposit refund (see Section 4 above), Canyon Construction will issue the refund within 14 business days of the cancellation notice and final accounting. Refunds are issued via the same payment method used for the original deposit.
6. Force Majeure
In cases of cancellation due to documented force majeure events (natural disaster, declared state of emergency, permitting authority denial beyond Canyon Construction's control), cancellation terms will be negotiated in good faith between Canyon Construction and the client.
7. Contact Us
For questions about payment, cancellations, or this policy, please contact Canyon Construction Inc.:
- By email: info@canyonconstruct.com
- By phone: +1 (305) 741-8320
- By mail: 6767 Collins Ave #606, Miami Beach, FL 33141