This form is designed for use between Sheetrock or Drywall Contractors and Property Owners and may be executed with either a cost plus or fixed fee payment arrangement. This contract addresses such matters as change orders, work site information, warranty and insurance. This form was specifically drafted to comply with the laws of the State of Tennessee.
Memphis Tennessee Sheetrock Drywall Contract for Contractor
State:
Tennessee
City:
Memphis
Control #:
TN-00462-8
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Tennessee Sheetrock Drywall Contract For Contractor?
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FAQ
Anyone hired by the property owner is required to be licensed if they perform $25,000 or more of the work, as these contractors would be considered prime contractors since they are contracting directly with the owner.
A handyman in Tennessee is not required to hold a state license unless the job they are working on is worth more than $25,000. A home improvement license is required for remodeling jobs worth between $3,000 and $24,999. Licenses are awarded by the Department of Commerce and Insurance Board for Licensing Contractors.
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 $16,000 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.
Tennessee has two separate prompt payment acts that cover both private and public construction projects. They provide certain deadlines for payment and impose penalties in the form of interest for non-compliance.
A: It's not uncommon for contractors to ask for a down payment up front to secure your spot on their schedule or purchase some of the job materials in advance. Asking for more than half of the project cost up front, though, is a big red flag.
A standard business license is needed from your county and/or municipal clerk if your gross receipts are $10,000 or more.
The contractor gets paid for all the expenses incurred during the project plus a percentage amount of the total as his profit. This percentage is pre negotiated with the employer when the contract is prepared. The costs covered under this contract are direct, indirect and profit.
Tennessee Handyman License Requirements The handyman license requirements Tennessee contractors face will depend on the size and scope of work they perform. Without a license, you can perform general construction, carpentry, and residential maintenance projects valued at under $3,000.
As the homeowner who is commissioning the project, it's reasonable to withhold at least 10% as your final payment. Avoid paying in full upfront, and definitely avoid paying anything before the contractor has evaluated the project in person.
A Tennessee contractor's license is required BEFORE bidding or offering a price, for projects $25,000 and up (includes materials and labor), as a prime (general) contractor; and also subcontractors performing electrical, mechanical, plumbing, HVAC, roofing and masonry are also required to be licensed as a contractor,
