- Calculation When No Work Is Performed. If the contractor abandoned the contract without doing any work, the actual loss shall be the amount which the homeowner paid to the contractor under the terms of the contract.
|Amount Paid to Contractor:||$|
|This is your actual loss.|
- Calculation When Some of the Work Is Performed. If the contractor partially and properly completed some of the work which was agreed to under the terms of the contract, the actual loss shall be totaled by adding the amount of the reasonable cost of completing the contract and, if necessary, repairing the contractor's defective performance, and by subtracting the part of the contract price that has not been paid by the owner.
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