A Tier I contractor completes a $45,000 addition but the final cost reaches $52,000 due to change orders. What is the potential penalty?
Correct Answer
C) Fine and possible license action
Tier I contractors are limited to $50,000 projects. Exceeding the limit subjects them to fines and possible disciplinary action regardless of change orders.
Why This Is the Correct Answer
Tier I contractors are limited to $50,000 projects. Exceeding the limit subjects them to fines and possible disciplinary action regardless of change orders.
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What is the maximum contract value a Tier 1 residential contractor can undertake in South Carolina?
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A contractor's general liability policy has a $2 million aggregate limit and $1 million per occurrence limit. After two claims of $800,000 each, how much coverage remains?
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A subcontractor wants to file a mechanics lien but never had direct contact with the property owner. What must they do first under South Carolina law?