Commercial Contractor Package West Virginia Form
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People also ask
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What is a contractor package?
Contractor's packages are specifically tailored to provide necessary coverage for your business. This typically provides blanket additional insured, aggregate per project, installation floater, builders risk, and other specialized coverage for contractors.
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Is it normal for a contractor to ask for 50% up front?
Your job may require some custom-made item that's non-returnable. In these cases, the supplier often asks for a 50% down payment. If nothing on your job is custom-ordered, then you'd be foolish to advance money to a contractor.
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What is the typical payment term for contractors?
Net 10, 30, and 60. Net payment is the most common payment schedule for medium-sized construction companies. This payment term refers to the number of days – 10, 30, or 60 days – within which an owner should pay an invoice after it has been received.
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How much work can you do without a contractor license in WV?
In the state of West Virginia, work performed under $2,500 (materials and labor, total contract) does not require a contractor license. However: Electrical Contractor's License - if a project exceeds $1,000.
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What percentage should you give a contractor up front?
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.)
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Does West Virginia require a contractor's license?
The City's Business License application is available online. All General Contractors and Subcontractors performing total contract job cost in excess of $2,499.99 must possess a West Virginia Contractor's License obtained through the West Virginia Department of Labor 304-558-7890.
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How much can a contractor ask for upfront in Virginia?
A good rule of thumb is an initial deposit of no more than 10% down or $1,000, whichever is less. Unless the job requires custom-made items or special orders, in which case an initial down payment should be no more than 30% of the total value of the contract.
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Can a contractor ask for more money?
It is illegal and unethical to try to add charges after the fact, even if they are legitimate charges. From a professional standpoint, it also makes you look bad at the end of a project. You may have a different way of collecting those additional charges, but there are a few things to consider before you act.
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