How do you charge?
We provide excellent performance at a fair price.
We do not charge for introductory discussion of your objectives or for
mutual structuring of work orders.
We avoid quoting "fixed price" for engineering development projects, unless the work is
exceptionally well-defined and relatively free of uncertainty.
We generally work at time & materials (T&M). Our fee schedule
is well-established, but not disclosed over the Internet.
Our T&M estimates are for your budgeting and scheduling. We strive to adhere
to estimate, but bill at actual. If purchase orders stipulate a "not-to-exceed" amount and
unforeseen challenges arise, we reluctantly trim quality to remain within budget.
"Typical" projects at Reid Product Development range $20K-80K (tooling excluded).
Projects are generally scheduled, funded, performed, and invoiced phase-by-phase.
Projects commence upon authorization, typically via a formal purchase
order referencing our proposal or via an authorized countersignature on our proposal.
Start-up clients generally pay on retainer. Well-established clients with good credit
We modestly surcharge on sub-contracted services, materials, and travel
expenses. This covers our administrative cost and risk.
We do not accept referral fees or commissions, nor do we offer them.
Ethics dictate that we hold the client's best interest paramount in any
recommendations we make. Likewise, prospective clients are referred
to us on our merit.