I am looking for a bit of advice regarding payment terms for SIP frames. I have received a quotation from a fairly large firm for a SIP frame for our new build house. Whilst I am happy with the price, I am a bit concerned about the payment terms. They require a 10% deposit and then require the full balance to be paid two weeks prior to delivery. So my questions are:
Is it normal for SIP manufacturers to require full payment prior to delivery?
If so, is there any way I could protect myself against the manufacturer going into administration?
I am aware that I could get protection by paying all or part of the cost on credit cards but I understand that this protection only extends to £30,000.
I have not taken out a warranty yet but I am planning to do so. I am unlikely to use an NHBC builder so the policy would likely be NHBC Solo or an equivalent third party warranty. Apparently the Solo policy does not cover losses due to contractors/suppliers failing but I am not sure if the third party policies do?
I would be grateful if anyone has any thoughts, ideas or experiences of the above.