Is a contractor intitled to the depreciation amount if you don't have full replacement cost value?
Was not discussed in the beginning. Verbale agreement was, the contract price & the supplement checks that came in for other building issues that came up. He is requesting the depreciation amount now.
2006-07-22 11:38:02 · 1 answers · asked by J.J. 1 in Local Businesses ➔ Other - Local Businesses
What state and country? Each US state has very specific guidelines for maximun deposits - usually readily available online. If he is balking already and you are sincere about the contract then 'Red Flag.' Print out the Chapter Section Article Rule of the deposit law for him to read if he doesn't know it.
Proceed with caution and do yourself a BIG favor and put it into writing with plain launguage and specific detail. If both of you agree then great. If he balks again and is reluctant to put it in writing then 'Red Flag II'.
Get a new contractor.
2006-07-22 12:08:31 · answer #1 · answered by Dirtt 3 · 0⤊ 0⤋