What draw schedule means
A draw schedule lists when and how much the contractor will be paid during a job, often matched to the lender's inspection of finished stages.
Also called payment schedule, construction draw.
Where it shows up in your business
On financed jobs the bank releases money after its inspector signs off, which can lag your work. Plan your cash flow around the draw dates, not the work dates.
Work it out
- Free template: Schedule of values template
- Money guide: Payment terms and net 30
- Money: Money guides for contractors