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Richmond, VA 23233
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Who We Are
he Virginia Contractor Transaction Recovery Fund is administered under the Virginia Contractor Transaction Recovery Act which provides relief to consumers who have incurred losses through the improper and dishonest conduct of a licensed contractor. Filing a claim does not guarantee payment.
A person who has been awarded a judgment against a licensed contractor in a court of competent jurisdiction in the Commonwealth of Virginia may be eligible to file a claim. The judgment must be obtained against an individual or entity who is licensed by the Commonwealth of Virginia. The judgment must be based upon the improper and dishonest conduct of the contractor, and the judgment must indicate that the court found improper or dishonest conduct by the regulant. The contractor must have been licensed during the period in which the improper or dishonest conduct occurred.
In order to file a claim, the Clerk of Court should be notified that the Board of Contractors must also receive a copy of the notice served on the contractor. After the judgment, an attempt must be made to collect from the contractor by conducting debtor interrogatories. This action determines whether the contractor has any asset which can be sold or applied in satisfaction on the judgment. A claim form must be filed within 12 months after the judgment became final. Filing a claim does not guarantee payment. A single claim is limited to $20,000.00.
- Visit the Board for Contractors page to learn more about the Contractor Recovery Fund.
- Visit the Real Estate Board page to learn more about the Real Estate Recovery Fund.