Payment Terms & Conditions
Payment terms & conditions
Last updated: 2026-05-03
These terms apply to all invoices issued by GSP Builder Inc. (HCRA Licence B64606). Specific projects are governed by individually signed contracts; the contract takes precedence wherever it differs from this page. If you have any questions, email [email protected] or call +1 (437) 435-7227.
1. Invoicing schedule
Invoices are issued at milestones defined in your signed contract. Typical milestones include: contract signing (deposit), permit issuance, framing/structural complete, mechanical rough-in, drywall complete, substantial completion, and final handover. Smaller projects may use a simplified schedule (deposit, midpoint, final).
2. Payment due date
All invoices are due net-15 from issue date unless otherwise specified in the contract. Late payments accrue interest at 1.5% per month (compounded monthly, equivalent to 19.56% per year), starting on the day the invoice becomes overdue.
3. Accepted payment methods
We accept Interac e-Transfer (preferred for amounts up to $10,000), wire transfer, EFT, certified cheque, and bank draft. We do not accept credit card payments by default — exceptions are possible by request and will incur a 2.4% processing surcharge to cover gateway fees. We do not accept cash for amounts above $1,000.
4. Bank details
For wire/EFT instructions, please contact [email protected]and we’ll send our banking information directly. We do not publish account numbers on this website to reduce fraud risk.
5. HST & taxes
All quoted prices are exclusive of HST (13% Ontario) unless explicitly noted. HST is itemised on every invoice. Our HST registration number is provided on each invoice.
6. Tarion enrolment & deposits
For new homes, deposits are protected under the Ontario New Home Warranties Plan Act, administered by Tarion. The Tarion deposit-protection limit and structure are governed by Tarion regulations and override anything stated here in the event of conflict. See tarion.com for current limits.
7. Change orders
Changes to scope after contract signing are documented through written change orders. Each change order specifies the scope adjustment, schedule impact, and price impact. No additional work begins until the change order is signed by both parties.
8. Disputes
If you disagree with an invoice, raise the concern in writing within 7 days of issue. We’ll provide supporting documentation and try to resolve the issue directly. If we can’t resolve it, both parties agree to attempt mediation in Ontario before commencing legal action. New-home buyers retain all rights under the Tarion warranty and may file claims directly with Tarion.
9. Refunds
Refunds for work not yet performed are processed within 30 days of contract termination, less any costs already incurred (permits, design fees, deposits to subtrades, materials ordered). The exact reconciliation is provided in writing.
10. Holdback (where applicable)
Where required under the Ontario Construction Act, a 10% holdback is retained from each invoice and released after the statutory period (typically 60 days from substantial completion or as otherwise specified in the Act).
Questions
Email [email protected], call +1 (437) 435-7227, or message us on WhatsApp. We aim to respond within one business day.
GSP Builder Inc. · HCRA Licence B64606 · Whitby, Ontario · [email protected] · +1 (437) 435-7227