California Civil Code 8730 – If the contract price for a work of improvement is not a fixed price, …
Current as of: 2024 | Check for updates
|
Other versions
If the contract price for a work of improvement is not a fixed price, the amount of security provided under this chapter shall be the guaranteed maximum price or, if there is no guaranteed maximum price, the owner’s and direct contractor’s good faith estimate of the reasonable value of the work to be provided pursuant to the contract.
(Added by Stats. 2010, Ch. 697, Sec. 20. (SB 189) Effective January 1, 2011. Operative July 1, 2012, by Sec. 105 of Ch. 697 and by Section 8052.)
Terms Used In California Civil Code 8730
- Contract: A legal written agreement that becomes binding when signed.