PROCUREMENT

Phase Deposit Overview

Phase Deposit

Client satisfaction is paramount to Eon Interior Design, and we want to ensure a streamlined process is provided from start to finish across our turnkey interior design service. As part of our contract and services provided, Eon Interior Design is solely responsible for handling all procurement for all items related to a project. In order to provide each client with our streamlined design process, which is set up for each project’s success, we will require a phase deposit prior to the completion of our design and procurement process.

To further demonstrate and enlighten our clients as to why a deposit is required, please continue to read the following information herein, which offers an in-depth explanation into our deposit and procurement process.

A required minimum 25% phase deposit will be determined on your base merchandise spend amount reflected in your contract agreement or as reflected in your approved Budget & Spend Estimate Approval Form, whichever is more current per calendar date. This phase deposit is collected and due prior to the release of our design rendering and presentation in accordance with our company terms and policies. Additional phase deposits will be requested throughout the ongoing design process. Payment towards all procurement installments and phase deposits are promptly due within two business days upon receipt of invoice.

Supply Chain

Due to post-Covid circumstances currently still impacting the marketplace and present supply chain demands, there is typically limited stock with nearly everything we select for your project. Therefore, having initial funds at hand allows us to place applicable temporary paid holds on items with critically low stock, so we may reserve applicable items until we provide you with our full presentation and then retrieve your approval to officially proceed forward with each selection reserved and presented. Additionally, approvals on merchandise can come quickly after our design presentation is reviewed, and our procurement team will need to be able to have access to immediate funds to properly move through its procurement in order to not lose allocation on selected items. Some products may also have extensive lead times of several weeks or months depending on the nature of the product and if it is custom, made to order, on reserve and coming into stock in the foreseeable future, and so on.

Streamlined Process

Without access to funds prior to our design and procurement process, we will not have any buying power and we cannot hold or reserve items for you, which would require us to make re-selections across our design process as a result of items continuously going out of stock where many items would likely become backordered weeks or months out by the time it typically takes for us to complete our interior design presentation.

This out-of-stock challenge would then carry over into our streamlined design process, where without access to funds for initial procurement, a majority of the merchandise selected would likely not be available for purchase with swift delivery timeframes because of the accelerated rate in which items go out of stock due to the capricious supply chain demand.

During our procurement process, we will select a variety of items for a project where those exact items typically go out of stock the next day or within a few days as the items we select for our projects are typically desirable, in-demand items. Therefore, by having funds for procurement, it allows us to avoid such product losses, where instead we can hold or reserve those items and provide you with allocation as we move through our streamlined design and approval process.

Housing Market Trends

As a result of the growing housing market in Florida where housing inventory is low and hyper-competitive (and across some parts of the US), there has been a great increase in demand for furniture goods and as a result, a larger general population is now often procuring more stocked goods than ever before in order to meet the growing demands for in stock merchandise. Many items in today’s furniture and home decor marketplace have limited, low stock where these “in demand” options are easily sold out within several days due to their desirability, which is typically contributed to an items’ high style, good quality, reasonable price point, and availability or overall likability. This challenge has also trickled down into commercial office furniture, which is also an in-demand commodity resulting from the work from home movement, post-pandemic.

Closing Summary

Essentially, without access to procurement funds, many of the items found in our presentation would go out of stock by the time we would provide our interior design and retrieve your approval. Because of this reality, we would then unfortunately be unable to move through our approval and procurement process swiftly as we would have to re-select nearly a majority of the items presented resulting in having to re-create an entire presentation where additional interior design service fees would apply, and the cycle would repeat because many of those items from another newly revised presentation would likely also go out of stock by the time we would present and finalize our interior design. Therefore, as a result of all the various processes and reasons outlined above, we require a deposit prior to our design and procurement process to ensure your project is offered across our streamlined, turnkey-style schedule.

Thank you for your understanding and for your cooperation with following our deposit and procurement policies, which are all tailored to provide you with amazing, swift project results. Please contact our Support Team should you have any questions. Once we are in receipt of the full required deposit, we will proceed to our next steps in our Project Timeline along with our sourcing, procurement, and the renderings illustrating our beautiful interior design for your project.

Regards,

Eon Interior Design Management

EON INTERIOR DESIGN