Do you put a cap on the maximum spend for contractors paid by the hour?

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Sometimes a business will need to hire a contractor to do repairs or maintenance work on site. These contractors often get paid by the hour. Hourly work can creep up to a large unexpected bill!

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To avoid this pain, if you don't have an official quote because they don't know how much work is required, you should make it clear in writing that you have a cap on the maximum you would like to spent without an additional approval for more work.

By agreeing on this maximum spend, you can avoid a surprise bill that hurts the bank.

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