Maine Account Stated for Construction Work
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How to fill out Account Stated For Construction Work?
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FAQ
Avoid paying in cash. Contractors cannot ask for a deposit of more than 10 percent of the total cost of the job or $1,000, whichever is less. (This applies to any home improvement project, including swimming pools.) Stick to your schedule of payments and don't let payments get ahead of the completed work.
The exact deposit amount contractors ask for upfront varies and is especially dependent on the size of the project. For relatively small jobs, like a $15,000 bathroom remodel, contractors may ask for a 50% deposit. For large jobs, like a $100,000 full-home renovation, a 10%20% deposit is more typical.
In order to cancel the transaction, the consumer must send the notice of cancellation form, or some other written statement indicating the intent to cancel the contract, to the creditor at the address stated on the notice. This notice need only state the consumer's intention to cancel the transaction.
If you aren't getting paid on a construction project, you will generally have the right to suspend your performance. The right to stop or suspend work might be established in the contract. But, even if it isn't, contractors and subs may still be able to suspend performance under general contract principles.
Unlike other states, Maine doesn't require general contractors to be licensedonly plumbers, electricians, and contractors who do specialty work.
Written Contracts Are Required For all home construction and home improvement projects over $3,000, Maine law requires a written contract with a specific provision that prohibits payment up front of more than one third of the contract price.
There is a federal law (and similar laws in every state) allowing consumers to cancel contracts made with a door-to-door salesperson within three days of signing. The three-day period is called a "cooling off" period.
Maine does not require that general contractors register or obtain licenses to operate at the state level.
Most contractors will request a downpayment to add you to their schedule and also to ensure the project continues to move forward after the contractor has purchased materials. Reputable contractors are happy to negotiate a downpayment, including the amount and payment terms.
Written Contracts Are Required For all home construction and home improvement projects over $3,000, Maine law requires a written contract with a specific provision that prohibits payment up front of more than one third of the contract price.