Easy methods to be sure you choose a reasonably priced, dependable residence enchancment contractor. Article 36 A of the General Business Law requires that every contract for residence enchancment involving an aggregate price of $500. or extra, should be in writing, and include provisions equivalent to an outline of the work to be carried out, notice to the owner of the chance that a lien could also be filed towards the property for unpaid claims, that the contractor is required to deposit all funds received previous to completion in accordance with subdivision four of section seventy one a of the Lien Law and that in lieu of such deposit, the contractor may post a bond, or present a contract of indemnity or letter of credit score to the owner guaranteeing the return or proper software of the owner’s payments to the needs of the contract.
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