An Act relative to partial payment
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to regulate residential contracting agreements in Massachusetts, specifically addressing the issue of partial payments. It seeks to provide clearer guidelines and protections for consumers involved in home renovation or construction projects. The legislation intends to ensure fair practices and transparency regarding payment schedules and potential disputes. The goal is to establish more consistent rules for how contractors and homeowners handle payments during these types of agreements.
Key provisions
- Establishes requirements for contractors to provide detailed payment schedules in contracts.
- Requires written consent from the homeowner before any partial payments are made.
- Defines specific circumstances under which a contractor can withhold payment.
- Outlines procedures for resolving disputes related to partial payments.
- Addresses the potential for interest accrual on unpaid partial payments.
- Clarifies the responsibilities of both contractors and homeowners regarding documentation of payments.
- Specifies timelines for completion of work and associated payments.
- Requires contractors to maintain records of all payments received.
Who is affected
- Homeowners
- Contractors
- Construction Industry
- Consumer Protection Agencies
- Professional Licensure Boards
Notable changes
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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