How can a homeowner collect from an Arizona contractors' license bond?
How Much Can Be Paid from the Recovery Fund?
The recovery fund does not guarantee payment to anyone. If a homeowner is found to be eligible for payment from the fund, they can recover a maximum $30,000 per residence. An award shall not exceed an amount necessary to complete or repair the construction project.
The maximum payout for residential contractors license is $200,000. Once the $200,000 has been disbursed to be your claims no further payments from the fund against that contractor's license shall be allowed. See A.R.S. 32 – 1132. A and 32 – 1139. A.
Who Selects the Arizona Contractor to Make the Repairs?
After an award is made from the recovery fund, who selects the contractor to make the repairs? ROC or homeowner?