Completion Report Of Construction Work In Virginia
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The Virginia Department of Professional and Occupational Regulation (DPOR), through its Board of Contractors (BOC), regulates contractors in Virginia. A contractor license is mandatory to operate within the state, and the Board issues this license to eligible individuals and businesses.
Limit your deposit to 10% down or $1,000, whichever is less. (Up to 30% of total contract value in case of custom-made items.)
Licensed contractors are required by law to provide a written contract for residential work, signed by both parties. Don't rely on verbal agreements. Get all guarantees, warranties, and promises in writing. Limit your down payment or deposit.
As a general rule of thumb your contractor rate should be at least 50% more than you'd get for the same work as an employee.
Any person who undertakes work without (i) any valid Virginia contractor's license or certificate when a license or certificate is required by this chapter or (ii) the proper class of license as defined in § 54.1-1100 for the work undertaken, shall be fined an amount not to exceed $500 per day for each day that such ...
A good rule of thumb is an initial deposit of no more than 10% down or $1,000, whichever is less. Unless the job requires custom-made items or special orders, in which case an initial down payment should be no more than 30% of the total value of the contract.
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors.
In the area of law, for a contract to be legally enforceable, several requirements must be met, including an offer; acceptance of that offer; mutual understanding of the agreement; capacity to agree; an item or service; consideration in exchange for the item or service; and legality of the contract itself, including ...
No action may be brought by a state public body on any construction contract, including construction contracts governed by Chapter 43.1 (§ 2.2-4378 et seq.), unless such action is brought within 15 years after completion of the contract.
A construction contract entered into by a person undertaking work without a valid Virginia contractor's license shall not be enforceable by the unlicensed contractor undertaking the work unless the unlicensed contractor (i) gives substantial performance within the terms of the contract in good faith and (ii) did not ...
