55-11-3.1. Clause required in contract not providing guaranteed price.
82 words·~1 min read·
/sd/title-55/chapter-55-11/55-11-3-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In addition to the requirements of § 55-11-3 , any contract entered into pursuant to § 55-11-1 , which does not provide for a guaranteed price for services or personal property to be delivered or performed pursuant to the terms of the contract, shall contain the following in twelve point bold type:
ANY FUNDS PAID UNDER THIS CONTRACT ARE ONLY A DEPOSIT TO BE APPLIED TOWARD THE FINAL COSTS OF THE SERVICES OR PERSONAL PROPERTY CONTRACTED FOR. ADDITIONAL CHARGES MAY BE REQUIRED.