Service contract down payment percentage regulations
Does the questioner want to ask "What is the percentage down payment requirement for service contracts"? Not less than 50%. The purpose of the down payment requirement of not less than 50% for service contracts is to ensure the security of performance and the ability to pay, to prevent the client from defaulting and failing to pay on time, and to ensure that the servicer receives a reasonable income and to encourage both parties to *** perform the contract together.