Construction contract/payment schedule ok?

To my knowledge, there is no legal entitlement to a completion guarantee (completion or contract performance bond), but the aforementioned 5% are based on a recommendation from consumer protection organizations - as a minimum contribution. In the worst case, however, the 5% are not really sufficient; 20% are more appropriate, as offered by some complete construction companies.

It is also important to distinguish whether the completion guarantee is a bond or insurance and what it covers. Sometimes, such guarantees are limited to insolvency of the construction company. As so often, the details are crucial here. I recommend having the securities / guarantees reviewed by a specialist.

Our provider does not offer something like that. Instead, a bank reference. I will obtain it this week. I'm curious. I will try to revise the second payment plan proposal a bit (based on [epis]) and offer it to the intermediary.