A contractor performs $15,000 worth of work on a residential project in Georgia. The homeowner pays $10,000 upfront but disputes the final $5,000. What is the maximum amount the contractor can collect from the Georgia Residential Contractor Recovery Fund?
Correct Answer
C) $25,000
The Georgia Residential Contractor Recovery Fund has a maximum payout of $25,000 per claim, regardless of the actual damages claimed.
Why This Is the Correct Answer
The Georgia Residential Contractor Recovery Fund has a maximum payout of $25,000 per claim, regardless of the actual damages claimed.
More ga-supplement Questions
A contractor discovers that a building permit was issued in error and the project violates setback requirements. According to Georgia regulations, what is the contractor's primary obligation?
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Which situation would require a Georgia contractor to obtain workers' compensation insurance?
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A contractor's employee in Georgia earns $52,000 annually. If the workers' compensation rate for construction is $8.50 per $100 of payroll, what is the annual workers' compensation premium for this employee?
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