What's Your Billing Style?

I overheard a couple of contractors talking yesterday about the way they bill clients. One said he gets a deposit upfront for the job, just in case the client turns out to be a deadbeat. The second contractor (a woman I know and respect), said she never asks for a draw until she's either invested money (materials) or time.

Along conversation ensued about the ethics of billing one way or the other, but, in the end, both contractors made valid points.

So, what's your billing style? And does it depend upon the type of job? Whether the client is new or a repeat client?

Share your thoughts with us.