'Joint control' in the context of a home improvement project refers to:
Explicación
A joint control, or funding control, is a neutral third party that holds the construction funds and releases them to the contractor against verified progress. B&P §7159.5(a)(8) is why it matters: a contractor who furnishes a joint control APPROVED BY THE REGISTRAR covering full performance and payment is exempt from the downpayment cap, the dollars-and-cents payment schedule, and the bar on accepting payment ahead of the value in place, and may take payment before completion. Two conditions travel with it — the registrar's approval, and the contractor holding no financial or other interest in the control. (b) describes joint checks, the different protection the Mechanics Lien Warning recommends to owners. (d) describes permit inspections, which verify code compliance, not payment. (a) describes unlawful licence sharing.
Referencia Legal: Bus. & Prof. Code §7159.5(a)(8)Practica las 1632 preguntas gratis — sin registro.
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Preguntas relacionadas de este tema
- A contractor includes a clause in the home improvement contract stating the buyer waives their right to cancel. This clause is:
- A home improvement contract must be written in the same language principally used in the:
- Under §7159.5, a contractor may NOT do which of the following regarding down payments and progress payments?
- When a home improvement contract's funds are handled through an approved joint control, the effect on the standard down payment and progress payment limits is that they:
- The home improvement contract must include a heading identifying the document. That heading must be titled:
- In addition to the contract price, a home improvement contract that includes a finance charge must separately disclose:
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