New Build Escrow

I took the builders spec home and made some modifications that the builder and I finally decided on along with the price. When we sat down to write a contract he asked for a 10% escrow since it was a custom job. Is this normal? Whats my recourse if he goes bankrupt? Is there anything else I should write into the contract, because right now it seems I fork over a ton of cash and pray it all works out!

[HomeGuru]

Have an attorney review your contract before putting any money down.