Oregon Account Stated for Construction Work is a legal concept that comes into play when there is a payment dispute or disagreement between parties involved in a construction project in the state of Oregon. It is a specific type of claim that can be pursued by contractors, subcontractors, suppliers, or any other party involved in the construction process. The concept of Account Stated refers to an agreement or acknowledgment between the parties involved regarding the amount owed for the work performed or the goods supplied. If all parties have agreed on the amount due, either explicitly or through their conduct, an account stated is said to exist. In the context of construction work, an Oregon Account Stated arises when the contractor invoices the project owner or general contractor for completed work or provided materials. If the invoice is accepted or payments are made without objection, a mutual understanding is created, forming the Account Stated. There are no specific different types of Oregon Account Stated for Construction Work. However, it is important to note that the claim can be made by different parties involved in the construction project, and the role of each party may differ. For instance, a subcontractor may assert an Account Stated claim against the general contractor or project owner, while a supplier may assert the claim against the subcontractor. Keywords related to Oregon Account Stated for Construction Work include payment dispute, construction project, contractor, subcontractor, supplier, payment disagreement, invoice, amount due, goods supplied, project owner, general contractor, claim, and mutual understanding. Overall, Oregon Account Stated for Construction Work is a legal concept that helps resolve payment disputes in construction projects by recognizing a mutual agreement on the amount due. It provides a framework for securing rightful payment, protecting the interests of contractors, subcontractors, and suppliers involved in the construction industry in Oregon.
Oregon Account Stated for Construction Work
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(18) Working without a construction permit in violation of ORS 701.098, $1,000 for the first offense; $2,000 and suspension of CCB license for three (3) months for the second offense; $5,000 and permanent revocation of CCB license for the third and subsequent offenses.
With limited exceptions, it is llegal in Oregon for anyone to do construction work for hire without a CCB license, Enforcement Manager Stan Jessup said.
On its face, Oregon's statute of repose appears straightforward: claims for residential and small commercial construction defects are barred ten years after substantial completion. Claims for large commercial structures are barred six years after substantial completion.
Projects that do not require a license from the CCB include gutter cleaning, power & pressure washing, debris clean up (yard or construction site), and handyman work on projects with a contract value of $1,000 or less.
Asking for more than half of the project cost up front, though, is a big red flag. A reputable and established contractor should have the wherewithal to purchase enough materials to get the job started without relying on your down payment. I recommend tying payments to progress made during the job.
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.
The threshold for performing certain work without a contractor license increased from $500 to $1,000. To qualify for the exemption, a contractor must perform work that is casual, minor or inconsequential. This means that the work cannot: Be structural in nature.
What Should a Building Contract Include? A building contract should include information about the scope of the work, a defined start and finish date and a price for the work scheduled, however, this should be as detailed as possible to cover a number of scenarios.
@Alex Varner generally speaking, when a contractor asks for that much up front, it's because he/she does not have enough money or credit to purchase materials for the job.