A homeowner hires a contractor for a $35,000 deck project. The contractor demands $20,000 upfront before starting work. Under Oregon residential contractor law, what is the maximum legal down payment?
Correct Answer
B) $1,000 or $7,000, whichever is less
Oregon law limits down payments to $1,000 or 20% of contract price, whichever is less, so $1,000 is the maximum here.
Why This Is the Correct Answer
Oregon law limits down payments to $1,000 or 20% of contract price, whichever is less, so $1,000 is the maximum here.
More or-supplement Questions
Under ORS 701, what is the minimum amount of public liability insurance required for a CCB licensed contractor?
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Under ORS 701, what is the maximum amount a residential contractor can collect as a down payment before starting work?
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A contractor renovating a pre-1978 home in Oregon must provide the EPA lead pamphlet to the homeowner at least how many days before starting work?
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