An Act relative to partial payment

This bill amends Massachusetts law to regulate how residential contractors collect payments from homeowners. It limits upfront deposits to the greater of one-third of the total contract price or the actual cost of special materials needed before work begins, while prohibiting final payments until the project is fully completed to both parties' satisfaction. The rules do not apply to contractors who provide a performance bond or a similar guarantee worth at least two million dollars. Violations of these payment terms would be treated as unfair business practices under state consumer protection laws.