What is the maximum liability for claims from the Residential Contractors' Recovery Fund for a single license?

The maximum liability for claims from the Residential Contractors' Recovery Fund for a single license is set at $100,000. This amount reflects the structured measures in place that protect consumers who engage with licensed residential contractors. When a consumer suffers a financial loss due to the actions of a licensed contractor, the Recovery Fund serves as a financial safety net to compensate the consumer, provided certain conditions are met.

This $100,000 amount is significant as it balances the need to provide adequate compensation for homeowners while ensuring that the fund remains sustainable for future claims. It's important for both contractors and consumers to understand this threshold, as it plays a crucial role in the regulatory framework designed to maintain industry standards and protect consumer interests.