Pennsylvania Cash Advance Loans

I agree that states provide an fascination with limiting how much a contractor can collect in advance. However I feel you will find legitimate reasons to ask about for more cash up front on some jobs. For example, suppose you've got to order (and pay for) custom windows to get a job. And suppose those windows aren't returnable. I think it's reasonable to ask for a hefty payment at the start on that job. The same is true for nearly any job with special order materials, particularly when those materials come with a long order-to-ship time.

Rate of Pennsylvania Cash Advance Loans:

Some of those nine states cut contractors just a little slack when special order materials are required for a job. Massachusetts and Pennsylvania limit the down payment to one-third of the contract price but make an exception if materials have to get special ordered. In Maine, the original payment on do-it-yourself jobs can't exceed one-third of the contract price. But the master and contractor can waive the one-third limit by mutual agreement.

Tennessee limits the original payment on do it yourself contracts to one-third in the contract price but allows two exceptions: (1) in the big event the contractor provides performance and payment bonds or any other security guaranteeing performance, or (2) when the contract discloses the proper from the owner to withhold payment until tasks are done and the owner volunteers to create a bigger initial payment.

Maryland and California are another story.

Maryland limits the initial payment on home improvement work to one-third in the contract price. California is more restrictive. The initial payment can't exceed ,000 or 10% with the contract price, whichever is less. And there are no exceptions! I think that's going to become unreasonable on some jobs. For example, quite some time ago I had a call from your contractor re-doing the interior of the luxury home in Malibu. Bare material cost to the marble flooring for this job was more than ,000. And the flooring order required a 60-day lead time with full payment up front. I believe that job required an advance payment when the flooring went on order.

If you agree and do do-it-yourself work in either Maryland or California, I'm planning to suggest a better strategy to handle advance payments. The law in Maryland and California limit only down payments. Fine. Don't even mention a deposit inside your contract. Instead, increase the risk for scheduled start construction the day non-returnable materials are put on order. Identify that within the contract as the first job phase. Then make payment due on job phase 1 if you order those materials. That may be your day the agreement is signed. I feel that set of conditions complies with both letter and spirit with the law.

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