Menu
Home>Levelset Community>Legal Help>Establishment of escrow account

Establishment of escrow account

Nevada

Final work and payment for pool and backyard construction. The project has taken over a year and a half, due to poor contractor follow through, and as the home owner I do not trust the contractor to complete the final required tasks. The contractor has requested final payment prior to completing the final tasks. I indicated that an escrow account for the final $10,000 be established with specific guidelines for project start time frame, project completion requirements, and completion time frame establishment, so that the contractor has assurance of payment and I have assurance of project completion.

1 reply

Aug 4, 2022
First of all, it is against NRS 624 (i.e., the contractor statute) for a pool contractor to seek payment prior to performing the work. Also the Nevada State Contractors Board deems any failure of a contractor to continue work for over 30-days an abandonment of the Project. Based on the minimal information provided, I would suggest you talk with a construction lawyer to discuss your alternatives before moving forward on your project. If you can both agree to some kind of an escrow account, that could work. However, it sounds like your issues are more than just payment of the work.
0 people found this helpful
Helpful