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Question DetailsAsked on 10/15/2015

ROOFING CONTRACT, DOES IT NEED A RELEASE OF MATERIAL PAID FOR BY CONTRACTOR AND INSURANCE FOR THE COMPANY CONTRACTE

IN FL., I UNDERSTAND A LEIN CAN BE PLACED ON HOUSE IF MATERIALS PURCHASED BY CONTRACTOR IS NOT PAID FOR, AND HOW MUCH INSURANCE DOES CONTRACTOR NEED FOR THE JOB . THESE TWO THINGS PEOPLE OVERLOOK.

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Here is a previous question with answer on a similar issue FYI -


https://answers.angieslist.com/Are-pr...


Yes - with your final payment you need to receive back a paid-in-full invoice or statement signed by him, lien releases for his company, any subs, and materials providers - otherwise you could be hanging in the wind if he did not pay them off. This requirement should be spelled out in the contract as a condition to receive final payment.


Insurance - mandatory state Workers Compensation insurance on his employees, Bond in remainging unencumbered amount at least equal to contraxct amoutn, and typically at least $1 million liability insurance - several million is much better but $1 million is typically about as much as small roofing companies carry.


Here is an AL article on the subject too -


http://www.angieslist.com/contractor/...

Answered 4 years ago by LCD




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