Madison audio visual reserves the right to invoke a down payment requirement on contracts exceeding $500.00 in material costs. Down Payments consist of a percentage of the material cost of the bid ranging from 25 to 100 percent, the default being 75 percent. Material cost does not include labor or other expenses, and will be specified on the estimate, along with the down payment percentage. Down payments must be paid before work begins or materials are purchased. The remaining balance can be paid upon satisfactory completion of the job, or upfront with the down payment, if the client prefers. Madison Audio Visual maintains ownership of any materials purchased until full payment is completed.