Calculate the required cash deposit alternative to bonding for a Class C contractor in Nevada with a $120,000 monetary limit:
Correct Answer
A) $15,000
Class C contractors must maintain a $15,000 bond or equivalent cash deposit regardless of their specific monetary limit within the Class C range.
Why This Is the Correct Answer
Class C contractors must maintain a $15,000 bond or equivalent cash deposit regardless of their specific monetary limit within the Class C range.
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A Nevada contractor completes a $85,000 kitchen remodel. The homeowner refuses to pay the final $12,000, claiming defective work. How long does the contractor have to file a lien after the work was completed?
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A contractor's surety bond claim is paid out for $75,000. Under NRS 624, what must the contractor do regarding their bond coverage?