Payment & Draw Schedule Builder
Build a clean residential draw schedule — deposit through final payment — with dollar amounts for every milestone, ready to print.
| Milestone | % | Amount |
|---|---|---|
| Deposit — due at signing | 25.0% | $6,000 |
| Materials ordered & delivered | 21.7% | $5,200 |
| Rough-in / demolition complete | 21.7% | $5,200 |
| Drywall & systems complete | 21.7% | $5,200 |
| Final payment — walkthrough & punch list complete | 10.0% | $2,400 |
| Total | 100.0% | $24,000 |
How the Payment & Draw Schedule Builder works
A construction payment schedule is the part of the contract that decides when you get paid. This builder turns a contract total into a clear, printable draw schedule in seconds. You enter the contract total, the deposit percentage, how many progress draws you want (two to four), and the final or retainage percentage held until the job is done.
From those inputs it produces a complete progress payment schedule for contractors: a deposit, a series of milestone-based progress draws, and a final payment, each with a dollar amount and the milestone that releases it. The result is a printable draw schedule template you can attach to a proposal or contract.
The structure keeps the homeowner's money and your work moving in step. Neither side gets far ahead of the other, which is exactly what a good payment schedule is for.
How the draw amounts are calculated
The math is straightforward. The deposit is the contract total multiplied by your deposit percentage, and the final payment is the total multiplied by your final or retainage percentage. Whatever is left — the contract total minus the deposit minus the final payment — is the progress total.
That progress total is split evenly across the number of draws you chose, and each share is tied to a verifiable milestone such as materials delivered, rough-in complete, drywall and systems done, and substantial completion. A homeowner can look at the job and confirm a milestone is met before releasing money.
Keep the deposit sized to its real job: it should cover mobilization and the first round of materials, not fund the whole project. Many states cap residential deposits — California, for example, limits it to 10% of the contract or $1,000, whichever is less — so check your state before you set that percentage.
Tips for a draw schedule that protects both sides
A draw schedule template only works if the milestones are real and the numbers are fair. A few practices keep it clean.
- Tie every draw to a milestone anyone can verify on site, never to a calendar date that weather or permits can blow.
- Keep the deposit modest and within your state's cap — it covers mobilization and first materials, not the full job.
- Hold a final retainage of 5-10% so the homeowner has reason to sign off and you have reason to finish the punch list.
- Match draw timing to your cash outflows so material buys and payroll never run ahead of the money coming in.
- Write the full schedule into the signed contract so the milestones and amounts are not open to argument later.
From schedule to signed and paid
A printable schedule is a strong start, but it still has to be presented, signed, and collected on. GreenlitBid builds the draw schedule straight into the proposal, gets it e-signed alongside the estimate, and collects the deposit on the spot — so the payment plan you map out here actually turns into money in the bank.
Questions
What is a draw schedule?+
A draw schedule is a payment plan written into a remodeling contract. It splits the contract total into a deposit, several progress payments tied to milestones, and a final payment held until the work is complete. It keeps the homeowner's payments and the contractor's work in sync so neither side is ever far ahead of the other.
How much deposit can I ask for?+
It depends on your state. Many states cap the deposit a residential contractor can collect — California, for example, limits it to 10% of the contract or $1,000, whichever is less. Other states have no cap but homeowners still expect something reasonable. A deposit should cover mobilization and the first round of materials, not fund the whole job.
What is retainage or a final payment hold?+
Retainage is a percentage of the contract — often 5-10% — that the homeowner holds back until the project reaches substantial completion and the punch list is finished. It gives the homeowner leverage to make sure the last details get done and protects them if the contractor walks away early.
Should I tie payments to milestones or to dates?+
Tie them to milestones, not calendar dates. Milestone-based draws — materials delivered, rough-in complete, drywall done — are objective and easy to verify, and they protect you if the schedule slips for reasons outside your control. Date-based payments create disputes the moment weather or a permit delays the job.
Is this draw schedule legally binding?+
On its own, no — this tool just builds the numbers. A draw schedule becomes binding when it is written into a signed contract that both the homeowner and contractor agree to. Always have your full contract reviewed for your state's home-improvement licensing and payment rules.
Tired of doing this math by hand?
GreenlitBid drafts the whole line-item estimate with AI, turns it into a branded proposal, and collects the deposit — in under 10 minutes. 14-day free trial, no credit card.