Bill > H4095

This bill amends Section 2(a) of Chapter 142A of the general laws to further regulate residential contracting agreements. The key provisions are: (1) any deposit required under the contract shall not exceed the greater of one-third of the total contract price or the actual cost of any special-order or custom-made materials or equipment, except for contractors who provide a performance and payment bond, lien and/or completion bond, or a bond equivalent approved by the Director of Consumer Affairs and Business Regulation covering a minimum of two million dollars; and (2) no final payment shall be demanded until the contract is completed to the satisfaction of the parties. Any violation of these provisions is considered an unfair method of competition or unfair or deceptive act or practice under Chapter 93A.

Labor and Employment

https://malegislature.gov/Bills/190/H4095