I'm looking for some advice. I have a client in contract negotiations. I run a consulting group for email marketing, and we'd be working on a fixed fee project to improve their end to end tracking.
In the agreement I sent them, I've stated the project fee is due in full upon signing. They'd like to change that to 25% upfront, and 75% once the project is done, with a stipulation that the VP of Marketing sign off on the payment.
I'm somewhat new to project based work, and I haven't run into this before. It is a good amount of money, and though my company was a referral, they still don't know me.
I thought I'd offer to meet them in the middle and pay out 50/50, but the rules for the sign off need to be in the SOW. For example, they agree that if we complete the 5 tasks if the SOW, that they release the payment.
Anyone dealt with this before? It would be amazing if you could point me to legal language which could be applied to this too.
Thank you! Rax