Bonus for a builder?

We are building a house in the Lakeside area. It has been suggested to us that offering a bonus for "on time" completion is a worthwhile consideration. Have others done this? How much of a bonus was offered? With what results? Any advice and/or suggestions will be appreciated.

Thanks in advance.

A bonus for doing his/her job??? How about a PENALTY clause for NOT getting it done on time! And it should have been written into the contract to begin with.

The problem with a penalty clause is that the contractor will start cutting corners if they fall behind. It will likely be the type of cuts that don't appear until you have paid and he is far down the road.

Excellent point CBob. The same statement can be made for the bonus clause. Caught between a rock and a hard place.

Yep, best to just yell and scream at them every day they are late.........jaja.

That would go over like a screen door in a submarine.

Now that was funny!